Kellanova (NYSE:K) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Kellanova (NYSE:K) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 212,347 shares of the company’s stock after selling 15,271 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Kellanova worth $17,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. CVA Family Office LLC boosted its holdings in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the period. MCF Advisors LLC lifted its position in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Blue Trust Inc. boosted its stake in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. purchased a new position in Kellanova during the 2nd quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. raised its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock valued at $92,516,606 in the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays lifted their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Piper Sandler increased their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Finally, Stifel Nicolaus lifted their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.35.

Kellanova Stock Performance

K opened at $81.29 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market cap of $28.02 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The stock has a 50-day moving average of $80.82 and a 200-day moving average of $71.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

About Kellanova

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.