Janney Montgomery Scott LLC Lowers Position in Kellanova (NYSE:K)

Janney Montgomery Scott LLC cut its holdings in Kellanova (NYSE:K) by 43.9% in the third quarter, Holdings Channel reports. The fund owned 23,119 shares of the company’s stock after selling 18,105 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Kellanova were worth $1,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in Kellanova by 2.6% in the first quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock worth $4,537,000 after purchasing an additional 1,984 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Kellanova by 16.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 593,241 shares of the company’s stock valued at $33,987,000 after acquiring an additional 85,748 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Kellanova by 8.3% during the first quarter. TD Asset Management Inc now owns 1,350,790 shares of the company’s stock valued at $77,387,000 after acquiring an additional 103,517 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Kellanova by 7.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 311,719 shares of the company’s stock valued at $17,858,000 after acquiring an additional 20,995 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Kellanova by 19.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 365,290 shares of the company’s stock valued at $20,927,000 after acquiring an additional 58,259 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,072,264 shares of company stock worth $86,452,375 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.2 %

Kellanova stock opened at $81.18 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The stock’s 50 day simple moving average is $80.67 and its two-hundred day simple moving average is $69.50. The firm has a market cap of $27.98 billion, a PE ratio of 27.89, a P/E/G ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. Analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on K shares. Stifel Nicolaus upped their price objective on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Wells Fargo & Company upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Barclays upped their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Piper Sandler upped their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.35.

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.