Sanctuary Advisors LLC Purchases 145 Shares of Kellanova (NYSE:K)

Sanctuary Advisors LLC raised its position in Kellanova (NYSE:K) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,502 shares of the company’s stock after acquiring an additional 145 shares during the quarter. Sanctuary Advisors LLC’s holdings in Kellanova were worth $690,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. HB Wealth Management LLC boosted its stake in shares of Kellanova by 24.8% during the 2nd quarter. HB Wealth Management LLC now owns 5,966 shares of the company’s stock worth $344,000 after acquiring an additional 1,184 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Kellanova in the second quarter valued at $39,000. Panagora Asset Management Inc. raised its position in shares of Kellanova by 4.0% in the second quarter. Panagora Asset Management Inc. now owns 78,456 shares of the company’s stock valued at $4,525,000 after purchasing an additional 2,987 shares during the period. TrueMark Investments LLC acquired a new stake in shares of Kellanova during the 2nd quarter worth about $264,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Kellanova by 3.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 615,017 shares of the company’s stock worth $35,474,000 after buying an additional 21,776 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $80.57, for a total value of $9,231,952.31. Following the completion of the transaction, the insider now owns 50,024,523 shares of the company’s stock, valued at $4,030,475,818.11. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 1,031,247 shares of company stock valued at $83,322,466. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on K. StockNews.com initiated coverage on shares of Kellanova in a research report on Sunday. They set a “hold” rating for the company. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Finally, Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

Shares of NYSE:K opened at $80.82 on Wednesday. The company’s 50 day simple moving average is $80.81 and its 200 day simple moving average is $73.61. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34. The stock has a market capitalization of $27.86 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, research analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s payout ratio is currently 78.35%.

Kellanova 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.