Mn Services Vermogensbeheer B.V. Sells 2,300 Shares of Kellanova (NYSE:K)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Kellanova (NYSE:K) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,400 shares of the company’s stock after selling 2,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Kellanova were worth $8,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. boosted its holdings in shares of Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the period. Maverick Capital Ltd. purchased a new position in Kellanova during the second quarter worth $88,065,000. Point72 Asset Management L.P. purchased a new position in Kellanova during the second quarter worth $63,585,000. Boston Partners raised its stake in shares of Kellanova by 117.1% in the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after acquiring an additional 689,395 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Kellanova by 130.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock worth $62,122,000 after acquiring an additional 608,989 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.3 %

Shares of Kellanova stock opened at $80.86 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market cap of $27.87 billion, a P/E ratio of 27.79, a PEG ratio of 2.56 and a beta of 0.39. The firm’s 50 day moving average price is $80.64 and its 200-day moving average price is $68.70. Kellanova has a 52-week low of $50.81 and a 52-week high of $81.26.

Kellanova (NYSE:K) last issued its quarterly earnings results 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 business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the sale, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the transaction, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the sale, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,150,064 shares of company stock worth $92,680,265. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on K. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. The Goldman Sachs Group started coverage on shares of Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Sixteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus price target of $74.96.

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.