Kellanova (NYSE:K) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its position in Kellanova (NYSE:K) by 15.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,769 shares of the company’s stock after selling 9,180 shares during the period. Stifel Financial Corp’s holdings in Kellanova were worth $4,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in K. Swedbank AB lifted its holdings in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova during the third quarter worth about $4,211,000. Impax Asset Management Group plc purchased a new stake in Kellanova during the 3rd quarter valued at about $4,991,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kellanova by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after acquiring an additional 35,268 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. StockNews.com started coverage on Kellanova in a research note on Saturday. They issued a “hold” rating for the company. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $76.35.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $80.68, for a total value of $9,244,556.44. Following the sale, the insider now owns 50,253,689 shares of the company’s stock, valued at $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,327,049 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.2 %

NYSE:K opened at $80.56 on Monday. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34. The stock’s fifty day moving average is $80.82 and its two-hundred day moving average is $72.74. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its 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. The firm 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 revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Research analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

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

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.