Vontobel Holding Ltd. Has $1.78 Million Stake in Kellanova (NYSE:K)

Vontobel Holding Ltd. reduced its holdings in Kellanova (NYSE:K) by 81.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,043 shares of the company’s stock after selling 98,079 shares during the quarter. Vontobel Holding Ltd.’s holdings in Kellanova were worth $1,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Swedbank AB increased its position in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after acquiring an additional 46,450 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Kellanova in the third quarter valued at $219,000. Fruth Investment Management acquired a new position in Kellanova during the third quarter worth $240,000. CVA Family Office LLC raised its position in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Kellanova in the third quarter valued at $215,000. 83.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Barclays lifted their target price on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Finally, Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $74.32.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $80.63, for a total value of $9,238,827.29. Following the transaction, the insider now owns 49,909,940 shares in the company, valued at $4,024,238,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the transaction, the insider now directly owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,154,298 shares of company stock worth $88,847,101 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE:K opened at $81.05 on Friday. Kellanova has a 12-month low of $49.28 and a 12-month high of $81.21. The company’s 50 day moving average price is $80.19 and its two-hundred day moving average price is $66.58. The firm has a market cap of $27.71 billion, a PE ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 earnings per share. Equities research analysts predict that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s dividend payout ratio is currently 85.39%.

Kellanova 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.