Huntington National Bank Sells 344 Shares of Kellanova (NYSE:K)

Huntington National Bank cut its stake in shares of Kellanova (NYSE:K) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 12,414 shares of the company’s stock after selling 344 shares during the period. Huntington National Bank’s holdings in Kellanova were worth $1,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% during the third 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. Blue Trust Inc. increased its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. bought a new position in shares of Kellanova in the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. lifted its position in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

NYSE K opened at $80.58 on Friday. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34. The firm’s 50 day moving average is $80.70 and its 200-day moving average is $69.75. The company has a market capitalization of $27.78 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. 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 (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio is 78.35%.

Analyst Ratings Changes

A number of brokerages have weighed in on K. DA Davidson downgraded shares of 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 research note on Monday, August 26th. Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. The Goldman Sachs Group started coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Piper Sandler boosted their price objective on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 1,072,264 shares of company stock valued at $86,452,375 in the last 90 days. 1.80% of the stock is currently owned by insiders.

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.