Northwest & Ethical Investments L.P. Trims Stock Holdings in Kellanova (NYSE:K)

Northwest & Ethical Investments L.P. trimmed its position in Kellanova (NYSE:K) by 20.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,399 shares of the company’s stock after selling 13,185 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Kellanova were worth $4,148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investors Research Corp grew its stake in Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after purchasing an additional 125 shares during the period. Assetmark Inc. grew its stake in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the last quarter. S.A. Mason LLC grew its stake in shares of Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after acquiring an additional 140 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

K has been the topic of a number of recent research reports. Barclays increased their target price on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. JPMorgan Chase & Co. increased their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.35.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This trade 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 available through this hyperlink. Insiders have sold 1,031,247 shares of company stock valued at $83,211,320 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Up 0.0 %

K stock opened at $81.15 on Friday. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The business’s 50-day moving average is $80.81 and its two-hundred day moving average is $71.19. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market cap of $27.97 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating 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 the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. Kellanova’s revenue was down .7% on a year-over-year basis. As a group, analysts forecast that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid 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 dividend payout ratio (DPR) is currently 78.35%.

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.