MML Investors Services LLC Sells 33,801 Shares of Kellanova (NYSE:K)

MML Investors Services LLC lowered its position in shares of Kellanova (NYSE:K) by 75.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,919 shares of the company’s stock after selling 33,801 shares during the quarter. MML Investors Services LLC’s holdings in Kellanova were worth $881,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova in the second quarter valued at $29,000. CVA Family Office LLC raised its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC grew its stake 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 buying an additional 137 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the sale, the insider now directly owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 1,031,247 shares of company stock valued at $83,327,049 in the last three months. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

K stock opened at $80.50 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $27.75 billion, a PE ratio of 27.66, a P/E/G ratio of 2.59 and a beta of 0.38. The business has a 50 day moving average of $80.81 and a 200-day moving average of $73.28. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34.

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

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analyst Upgrades and Downgrades

K has been the topic of a number of research reports. StockNews.com initiated coverage on Kellanova in a research note on Saturday, December 14th. They set a “hold” rating on the stock. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Finally, DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.35.

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.