Paloma Partners Management Co Buys Shares of 6,612 Kellanova (NYSE:K)

Paloma Partners Management Co purchased a new stake in Kellanova (NYSE:K) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,612 shares of the company’s stock, valued at approximately $534,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Kellanova by 57.2% in the 2nd 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. purchased a new stake in shares of Kellanova in the second quarter valued at $29,000. CVA Family Office LLC increased its position in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Kellanova by 61.9% in 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 boosted its stake in shares of Kellanova by 48.8% during 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. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $80.59 on Wednesday. The firm’s fifty day simple moving average is $80.82 and its 200 day simple moving average is $71.65. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34. The firm has a market capitalization of $27.78 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping 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 company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts expect 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 issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

K has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays increased their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average target price of $76.35.

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.