Kellanova (NYSE:K) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lowered its holdings in Kellanova (NYSE:K) by 95.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,254 shares of the company’s stock after selling 137,900 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Kellanova were worth $585,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB lifted its position in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after acquiring an additional 217,320 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Kellanova during the 1st quarter valued at approximately $1,003,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Kellanova during the third quarter worth $4,211,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on K shares. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com started coverage on shares of Kellanova in a research note on Thursday, November 28th. They set a “hold” rating on the stock. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Wells Fargo & Company increased their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

Shares of K opened at $80.59 on Wednesday. The firm has a market capitalization of $27.78 billion, a PE ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38. 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 firm has a 50-day moving average price of $80.82 and a 200 day moving average price of $71.65. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm posted $1.03 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insider Activity at Kellanova

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, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $92,516,606 over the last 90 days. 1.80% of the stock is currently owned by corporate 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.