Orion Portfolio Solutions LLC Cuts Stock Position in Kellanova (NYSE:K)

Orion Portfolio Solutions LLC lessened its stake in Kellanova (NYSE:K) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,687 shares of the company’s stock after selling 562 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Kellanova were worth $620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new stake in Kellanova during the 2nd quarter worth $29,000. CVA Family Office LLC boosted its stake 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 during the last quarter. Newbridge Financial Services Group Inc. boosted its stake 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 purchasing an additional 200 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in 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 Trading Down 0.1 %

NYSE K opened at $80.59 on Wednesday. The firm’s 50-day moving average is $80.82 and its two-hundred day moving average is $73.04. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34. 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 capitalization of $27.78 billion, a P/E ratio of 27.69, a PEG ratio of 2.59 and a beta of 0.38.

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

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the sale, the insider now directly owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. 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 the SEC website. Insiders have sold 1,031,247 shares of company stock worth $83,327,049 over the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com started coverage on shares of Kellanova in a research report on Saturday. They set a “hold” rating on the stock. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target 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.