Planning Capital Management Corp Sells 11,766 Shares of Kellanova (NYSE:K)

Planning Capital Management Corp decreased its holdings in shares of Kellanova (NYSE:K) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,247 shares of the company’s stock after selling 11,766 shares during the quarter. Kellanova makes up 2.6% of Planning Capital Management Corp’s holdings, making the stock its 12th biggest position. Planning Capital Management Corp’s holdings in Kellanova were worth $3,894,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. increased its stake in shares of Kellanova by 766.5% during the second 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. bought a new position in Kellanova during the 2nd quarter worth $88,065,000. Point72 Asset Management L.P. acquired a new stake in shares of Kellanova during the second quarter worth $63,585,000. Boston Partners boosted its position 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 grew its stake in shares of Kellanova by 130.1% in the second quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock valued at $62,122,000 after acquiring an additional 608,989 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. Stifel Nicolaus increased their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. StockNews.com assumed coverage on Kellanova in a research report on Tuesday. They set a “hold” rating for the company. Finally, 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 report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus price target of $76.35.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the sale, the insider now directly owns 49,795,357 shares in the company, valued at $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 sale, the insider now directly owns 50,675,238 shares in the company, valued at $4,070,235,116.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the sale, the insider now directly owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,072,264 shares of company stock worth $86,452,375. 1.80% of the stock is currently owned by insiders.

Kellanova Trading Up 0.2 %

Shares of Kellanova stock opened at $81.18 on Thursday. The firm’s 50 day moving average is $80.69 and its 200 day moving average is $69.67. The firm has a market capitalization of $27.98 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. 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 (NYSE:K) last posted its 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 net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company 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 $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s dividend payout ratio is presently 78.35%.

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.