Kellogg W K Foundation Trust Sells 1,080,732 Shares of Kellanova (NYSE:K)

Kellogg W K Foundation Trust decreased its holdings in shares of Kellanova (NYSE:K) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,139,106 shares of the company’s stock after selling 1,080,732 shares during the period. Kellanova makes up about 94.6% of Kellogg W K Foundation Trust’s portfolio, making the stock its largest position. Kellogg W K Foundation Trust owned approximately 14.55% of Kellanova worth $4,046,727,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of K. CVA Family Office LLC raised its holdings in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the last quarter. Blue Trust Inc. raised 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 valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Kellanova in the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on K shares. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Piper Sandler raised their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. BNP Paribas downgraded 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. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Finally, Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Sixteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the transaction, the insider now directly owns 50,675,238 shares in the company, 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 sold 1,150,064 shares of company stock worth $92,680,265. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

Shares of K stock traded up $0.11 during trading hours on Thursday, reaching $80.97. The stock had a trading volume of 3,799,951 shares, compared to its average volume of 1,808,147. The stock’s fifty day simple moving average is $80.64 and its 200 day simple moving average is $68.87. 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 $50.81 and a 12 month high of $81.26. The firm has a market capitalization of $27.91 billion, a PE ratio of 27.82, a PEG ratio of 2.59 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, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business earned $1.03 earnings per share. Kellanova’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The company 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 $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

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.