Ballentine Partners LLC Trims Position in Kellanova (NYSE:K)

Ballentine Partners LLC trimmed its position in Kellanova (NYSE:K) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,335 shares of the company’s stock after selling 280 shares during the quarter. Ballentine Partners LLC’s holdings in Kellanova were worth $270,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of K. CVA Family Office LLC raised its holdings in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares in the last quarter. MCF Advisors LLC increased its position 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 purchasing an additional 137 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake 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 purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the last quarter. Finally, Mather Group LLC. grew its stake in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on K shares. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com started coverage on Kellanova in a research report on Thursday. They set a “hold” rating on the stock. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Stock Up 0.1 %

Shares of Kellanova stock opened at $81.87 on Friday. The company’s 50 day moving average price is $81.01 and its 200-day moving average price is $77.25. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.91. 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 stock has a market capitalization of $28.22 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. Equities research analysts forecast that Kellanova will post 3.75 EPS for the current year.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the transaction, the insider now directly owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,031,247 shares of company stock worth $83,592,882 in the last 90 days. Company insiders own 1.80% of the company’s stock.

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.