PFG Investments LLC Cuts Stock Holdings in Kellanova (NYSE:K)

PFG Investments LLC reduced its stake in Kellanova (NYSE:K) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,910 shares of the company’s stock after selling 551 shares during the quarter. PFG Investments LLC’s holdings in Kellanova were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of K. Thrivent Financial for Lutherans increased its position in shares of Kellanova by 8.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,538 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Kellanova by 83.7% in the second quarter. Public Sector Pension Investment Board now owns 8,647 shares of the company’s stock worth $499,000 after buying an additional 3,941 shares in the last quarter. Creative Planning grew its position in Kellanova by 12.3% during the second quarter. Creative Planning now owns 57,804 shares of the company’s stock valued at $3,334,000 after acquiring an additional 6,341 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Kellanova by 2.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,527 shares of the company’s stock worth $665,000 after acquiring an additional 291 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Kellanova in the 2nd quarter worth approximately $68,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the transaction, the insider now owns 49,337,025 shares in the company, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,031,247 shares of company stock worth $83,724,652. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com initiated coverage on shares of Kellanova in a report on Friday. They set a “hold” rating on the stock. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

Shares of NYSE K opened at $81.74 on Friday. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.06. The stock has a market capitalization of $28.18 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.51 and a beta of 0.37. The company’s 50-day moving average is $81.13 and its 200 day moving average is $78.13. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (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 firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The business’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Kellanova will post 3.75 earnings per share for the current year.

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.