Graypoint LLC Boosts Stock Holdings in Kellanova (NYSE:K)

Graypoint LLC grew its position in Kellanova (NYSE:KFree Report) by 15.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,762 shares of the company’s stock after purchasing an additional 1,470 shares during the period. Graypoint LLC’s holdings in Kellanova were worth $869,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares during the last quarter. Yacktman Asset Management LP boosted its holdings in shares of Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after buying an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. purchased a new stake in Kellanova during the second quarter worth about $88,065,000. Finally, TD Asset Management Inc raised its position in Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after acquiring an additional 40,406 shares during the period. 83.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the sale, the insider now directly owns 50,675,238 shares in the company, valued at $4,070,235,116.16. The trade was 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 this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the sale, the insider now directly owns 50,675,238 shares of the company’s stock, valued at approximately $4,070,235,116.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,150,064 shares of company stock worth $92,680,265. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of a number of research reports. The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Wells Fargo & Company upped their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. StockNews.com initiated coverage on Kellanova in a report on Monday. They issued a “hold” rating for the company. Finally, BNP Paribas downgraded shares of 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. Sixteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.96.

Read Our Latest Report on Kellanova

Kellanova Stock Performance

NYSE K opened at $80.65 on Friday. The company’s 50 day simple moving average is $80.64 and its two-hundred day simple moving average is $68.87. 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 has a 1 year low of $51.02 and a 1 year high of $81.26. The stock has a market capitalization of $27.80 billion, a PE ratio of 27.71, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:KGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business posted $1.03 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed 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. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Kellanova Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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