Moors & Cabot Inc. Sells 467 Shares of Kellanova (NYSE:K)

Moors & Cabot Inc. cut its holdings in Kellanova (NYSE:KFree Report) by 5.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,114 shares of the company’s stock after selling 467 shares during the quarter. Moors & Cabot Inc.’s holdings in Kellanova were worth $655,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. raised its position in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. purchased a new stake in Kellanova during the 2nd quarter valued at $29,000. CVA Family Office LLC lifted 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 buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. Finally, MCF Advisors LLC boosted its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.2 %

Shares of Kellanova stock opened at $81.17 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market cap of $27.98 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.59 and a beta of 0.39. The firm’s 50-day moving average is $80.77 and its two-hundred day moving average is $70.58. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34.

Kellanova (NYSE:KGet Free Report) 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. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. As a group, research analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on K shares. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. The Goldman Sachs Group initiated coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. StockNews.com began coverage on Kellanova in a report on Wednesday. They issued a “hold” rating on the stock. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average price target of $76.35.

Get Our Latest Research Report on Kellanova

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This trade represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,109,047 shares of company stock worth $89,483,556 in the last three months. 1.80% of the stock is owned by insiders.

Kellanova Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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