Kellanova (NYSE:K) Shares Sold by Huntington National Bank

Huntington National Bank reduced its position in shares of Kellanova (NYSE:K) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,414 shares of the company’s stock after selling 344 shares during the period. Huntington National Bank’s holdings in Kellanova were worth $1,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of K. Assetmark Inc. raised its position in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the period. MCF Advisors LLC increased its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. S.A. Mason LLC raised its holdings in Kellanova by 7.6% during the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after buying an additional 140 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Wells Fargo & Company upped their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays increased their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.35.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated 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 directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 1,072,264 shares of company stock valued at $86,452,375. 1.80% of the stock is owned by company insiders.

Kellanova Trading Down 0.3 %

Kellanova stock opened at $80.58 on Friday. Kellanova has a one year low of $51.02 and a one year high of $81.34. The company’s fifty day moving average price is $80.70 and its two-hundred day moving average price is $69.75. The company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.61 and a beta of 0.39. 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 quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating 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 company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

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.