Kellanova (NYSE:K) Position Increased by Bank of Montreal Can

Bank of Montreal Can boosted its stake in Kellanova (NYSE:K) by 19.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,051,532 shares of the company’s stock after buying an additional 171,609 shares during the period. Bank of Montreal Can owned 0.31% of Kellanova worth $84,943,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in Kellanova by 57.2% in the second 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. bought a new stake in Kellanova in the second quarter worth about $29,000. CVA Family Office LLC raised its position in 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 acquiring an additional 307 shares in the last quarter. 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 valued at $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 worth $34,000 after purchasing an additional 137 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares in the company, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,031,247 shares of company stock worth $83,211,320 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on K shares. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Trading Up 0.0 %

Shares of NYSE:K opened at $81.13 on Wednesday. The firm has a fifty day moving average of $80.79 and a two-hundred day moving average of $70.99. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34. The firm has a market capitalization of $27.97 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last released 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. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is presently 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.