MAI Capital Management Has $788,000 Stake in Kellanova (NYSE:K)

MAI Capital Management boosted its holdings in shares of Kellanova (NYSE:K) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,767 shares of the company’s stock after acquiring an additional 199 shares during the quarter. MAI Capital Management’s holdings in Kellanova were worth $788,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. 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 valued at $29,000 after purchasing an additional 307 shares during the period. MCF Advisors LLC boosted its stake in shares of Kellanova by 48.8% in 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 last quarter. Blue Trust Inc. increased its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the period. Family Firm Inc. bought a new position in Kellanova during the second quarter worth $29,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now directly owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. This trade represents a 0.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 1,109,047 shares of company stock valued at $89,483,556. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $80.96 on Friday. The firm has a market capitalization of $27.91 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The stock has a 50 day moving average price of $80.76 and a two-hundred day moving average price of $70.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. Kellanova’s revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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 issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analyst Upgrades and Downgrades

K has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average 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.