SPC Financial Inc. Cuts Holdings in Kellanova (NYSE:K)

SPC Financial Inc. lowered its holdings in Kellanova (NYSE:K) by 70.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,816 shares of the company’s stock after selling 6,639 shares during the quarter. SPC Financial Inc.’s holdings in Kellanova were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Kellanova by 57.2% during 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 during the period. Family Firm Inc. purchased a new position in shares of Kellanova during the second quarter valued at approximately $29,000. CVA Family Office LLC lifted its position in 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. BNP Paribas purchased a new stake in Kellanova in the first quarter worth approximately $30,000. Finally, Newbridge Financial Services Group Inc. grew its position in Kellanova by 61.9% in 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 during the period. 83.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the transaction, the insider now owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on 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 sale, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the transaction, the insider now directly owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,154,298 shares of company stock worth $88,847,101 over the last 90 days. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

K has been the topic of a number of research reports. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group started coverage on shares of Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Finally, Stifel Nicolaus lifted their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.32.

Kellanova Stock Down 0.0 %

K opened at $81.02 on Friday. The company has a market capitalization of $27.70 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The firm has a 50-day simple moving average of $80.05 and a two-hundred day simple moving average of $66.42. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a 52 week low of $49.28 and a 52 week high of $81.21.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. Analysts forecast that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s dividend payout ratio is presently 85.39%.

Kellanova Company 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.