Kellanova (NYSE:K) Stake Boosted by Biltmore Family Office LLC

Biltmore Family Office LLC increased its position in shares of Kellanova (NYSE:K) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,304 shares of the company’s stock after acquiring an additional 304 shares during the period. Biltmore Family Office LLC’s holdings in Kellanova were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of K. Swedbank AB grew its position in Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after acquiring an additional 46,450 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after purchasing an additional 10,676 shares in the last quarter. SG Americas Securities LLC increased 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 worth $15,049,000 after buying an additional 217,320 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares in the last quarter. Finally, Atria Investments Inc acquired a new position in shares of Kellanova during the 1st quarter valued at about $1,003,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.2 %

Shares of K opened at $80.96 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 company has a 50-day moving average price of $80.76 and a two-hundred day moving average price of $70.50. The stock has a market cap of $27.91 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business 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 quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. Equities analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is presently 78.35%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on K shares. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Evercore ISI raised shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Finally, Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.35.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 1,109,047 shares of company stock valued at $89,483,556. 1.80% of the stock is owned by insiders.

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.