Mutual of America Capital Management LLC Lowers Stock Position in Kellanova (NYSE:K)

Mutual of America Capital Management LLC trimmed its holdings in shares of Kellanova (NYSE:K) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,067 shares of the company’s stock after selling 165 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Kellanova were worth $2,669,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Swedbank AB lifted its position in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after buying an additional 46,450 shares during the last quarter. SG Americas Securities LLC lifted its position in Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares in the last quarter. Atria Investments Inc purchased a new position in Kellanova in the first quarter worth $1,003,000. Finally, Tidal Investments LLC increased its position in shares of Kellanova by 36.7% during the first quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock worth $2,145,000 after purchasing an additional 10,051 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on K shares. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price target for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.35.

Kellanova Trading Up 0.2 %

Shares of Kellanova stock opened at $81.17 on Friday. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market cap of $27.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The firm has a fifty day moving average price of $80.77 and a 200 day moving average price of $70.65.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the sale, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This trade represents a 0.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,109,047 shares of company stock valued at $89,483,556 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.