Kellanova (NYSE:K) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in shares of Kellanova (NYSE:K) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 52,393 shares of the company’s stock after selling 1,174 shares during the period. Amalgamated Bank’s holdings in Kellanova were worth $4,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Greenwood Capital Associates LLC acquired a new stake in Kellanova during the 3rd quarter worth $1,457,000. Impax Asset Management Group plc purchased a new position in shares of Kellanova in the third quarter worth about $4,991,000. Asset Management One Co. Ltd. boosted its position in Kellanova by 3.5% during the third quarter. Asset Management One Co. Ltd. now owns 224,781 shares of the company’s stock worth $18,142,000 after acquiring an additional 7,552 shares during the last quarter. National Pension Service grew its stake in Kellanova by 0.9% during the 3rd quarter. National Pension Service now owns 522,848 shares of the company’s stock valued at $42,199,000 after acquiring an additional 4,550 shares in the last quarter. Finally, Cortland Associates Inc. MO acquired a new stake in Kellanova in the 3rd quarter valued at about $215,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Up 0.4 %

NYSE K opened at $81.00 on Friday. 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 firm has a market cap of $27.92 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.60 and a beta of 0.39. The firm has a 50 day simple moving average of $80.65 and a 200-day simple moving average of $69.03. Kellanova has a one year low of $51.02 and a one year high of $81.26.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business 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%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Equities research analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova 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 completion of the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the transaction, the insider now directly owns 50,675,238 shares of the company’s stock, valued at $4,070,235,116.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,150,064 shares of company stock worth $92,680,265. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on K shares. Stifel Nicolaus upped their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. StockNews.com initiated coverage on Kellanova in a research note on Monday, November 4th. They issued a “hold” rating for the company. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. BNP Paribas lowered 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. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Sixteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.96.

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.