Connor Clark & Lunn Investment Management Ltd. Sells 19,999 Shares of Kellanova (NYSE:K)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Kellanova (NYSE:K) by 81.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,415 shares of the company’s stock after selling 19,999 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kellanova were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Factorial Partners LLC increased its holdings in Kellanova by 8.2% in the 3rd quarter. Factorial Partners LLC now owns 22,500 shares of the company’s stock valued at $1,816,000 after buying an additional 1,700 shares during the period. Alpine Associates Management Inc. acquired a new stake in shares of Kellanova during the 3rd quarter valued at about $25,561,000. Prospera Private Wealth LLC bought a new stake in Kellanova in the third quarter valued at about $232,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova in the third quarter worth about $4,211,000. Finally, Wrapmanager Inc. acquired a new position in Kellanova in the third quarter worth about $200,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,145,830 shares of company stock valued at $92,516,606 over the last 90 days. 1.80% of the stock is owned by company insiders.

Kellanova Trading Up 0.2 %

K opened at $81.29 on Friday. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.34. The firm has a 50-day moving average price of $80.82 and a two-hundred day moving average price of $71.32. The stock has a market capitalization of $28.02 billion, a PE ratio of 27.93, a PEG ratio of 2.61 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its quarterly earnings results 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 net margin of 7.85% and a return on equity of 37.05%. 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 earnings per share. Kellanova’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.35.

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.