Mizuho Securities USA LLC Purchases 103,892 Shares of Kellanova (NYSE:K)

Mizuho Securities USA LLC grew its position in shares of Kellanova (NYSE:K) by 511.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,188 shares of the company’s stock after buying an additional 103,892 shares during the period. Mizuho Securities USA LLC’s holdings in Kellanova were worth $10,023,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of K. Blue Trust Inc. boosted its holdings in Kellanova by 57.2% in the 2nd 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 period. Family Firm Inc. acquired a new stake in Kellanova during the second quarter worth approximately $29,000. CVA Family Office LLC increased its stake in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 1,072,264 shares of company stock valued at $86,452,375 over the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $80.57 on Friday. The firm has a market cap of $27.77 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The firm’s fifty day moving average is $80.71 and its 200-day moving average is $69.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter 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. Sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

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 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 dividend payout ratio (DPR) is presently 78.35%.

Analyst Ratings Changes

A number of research analysts recently commented on K shares. Evercore ISI upgraded Kellanova to a “hold” rating in a research report on Friday, August 2nd. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $76.35.

About Kellanova

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.