Sequoia Financial Advisors LLC Has $784,000 Stock Position in Kellanova (NYSE:K)

Sequoia Financial Advisors LLC lessened its holdings in Kellanova (NYSE:K) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,711 shares of the company’s stock after selling 889 shares during the period. Sequoia Financial Advisors LLC’s holdings in Kellanova were worth $784,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC bought a new position in Kellanova during the 3rd quarter valued at $488,000. Northwest Investment Counselors LLC purchased a new stake in shares of Kellanova in the third quarter valued at about $218,000. Chicago Capital LLC bought a new position in shares of Kellanova during the third quarter valued at about $207,000. Stratos Wealth Advisors LLC purchased a new position in Kellanova during the third quarter worth about $204,000. Finally, Aaron Wealth Advisors LLC grew its position in Kellanova by 2.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 7,219 shares of the company’s stock worth $583,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on K shares. Deutsche Bank Aktiengesellschaft boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group started coverage on Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Barclays raised their target price on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted 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. Finally, BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a report on Monday, August 5th. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.32.

Kellanova Trading Down 0.2 %

NYSE:K opened at $80.88 on Friday. The company has a market cap of $27.88 billion, a P/E ratio of 30.64, a P/E/G ratio of 2.60 and a beta of 0.39. Kellanova has a 1 year low of $49.79 and a 1 year high of $81.26. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The stock’s fifty day moving average price is $80.61 and its two-hundred day moving average price is $67.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during 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 revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. As a group, analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed 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. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio is currently 86.36%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the transaction, the insider now directly owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the transaction, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,191,081 shares of company stock valued at $93,637,014. 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.