KBC Group NV Trims Stake in Kellanova (NYSE:K)

KBC Group NV cut its holdings in Kellanova (NYSE:K) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,234 shares of the company’s stock after selling 3,525 shares during the period. KBC Group NV’s holdings in Kellanova were worth $4,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of K. CVA Family Office LLC raised 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 acquiring an additional 307 shares during the period. MCF Advisors LLC raised its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the period. Blue Trust Inc. lifted its stake in shares of Kellanova by 57.2% during 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. bought a new position in Kellanova in the 2nd quarter worth $29,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% in 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. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.3 %

Shares of K stock opened at $80.57 on Monday. The company has a market cap of $27.77 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The stock’s 50 day simple moving average is $80.71 and its two-hundred day simple moving average is $69.99. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 37.05% and a net margin of 7.85%. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Research analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on K shares. DA Davidson downgraded 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. StockNews.com began coverage on Kellanova in a report on Tuesday, November 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research 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 MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average target price of $76.35.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total value of $6,248,896.00. Following the sale, the insider now owns 50,675,238 shares in the company, valued at $4,070,235,116.16. This trade represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 1,072,264 shares of company stock worth $86,452,375. Insiders own 1.80% of the company’s stock.

About Kellanova

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.