Beacon Financial Advisory LLC Sells 615 Shares of Kellanova (NYSE:K)

Beacon Financial Advisory LLC lowered its position in shares of Kellanova (NYSE:K) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,241 shares of the company’s stock after selling 615 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Kellanova were worth $1,230,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC bought a new stake in Kellanova during the 3rd quarter worth about $1,457,000. Impax Asset Management Group plc bought a new position in Kellanova in the 3rd quarter worth approximately $4,991,000. Asset Management One Co. Ltd. lifted its holdings in Kellanova by 3.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 224,781 shares of the company’s stock worth $18,142,000 after buying an additional 7,552 shares in the last quarter. National Pension Service increased its stake in shares of Kellanova by 0.9% in the 3rd quarter. National Pension Service now owns 522,848 shares of the company’s stock valued at $42,199,000 after buying an additional 4,550 shares during the period. Finally, Cortland Associates Inc. MO bought a new stake in shares of Kellanova during the third quarter worth $215,000. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

Shares of K opened at $80.86 on Wednesday. The business has a 50-day moving average of $80.64 and a 200-day moving average of $68.70. Kellanova has a 1 year low of $50.81 and a 1 year high of $81.26. The company has a market capitalization of $27.87 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 2.56 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 issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share 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 firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the business posted $1.03 EPS. The business’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

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

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 on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares in the company, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,150,064 shares of company stock worth $92,680,265 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on K shares. BNP Paribas cut 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. Deutsche Bank Aktiengesellschaft upped their price target on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Piper Sandler lifted their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, StockNews.com started coverage on Kellanova in a report on Monday. They issued a “hold” rating for the company. Sixteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.96.

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.