Investors Research Corp Increases Stock Position in Kellanova (NYSE:K)

Investors Research Corp grew its stake in shares of Kellanova (NYSE:K) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,991 shares of the company’s stock after acquiring an additional 125 shares during the period. Investors Research Corp’s holdings in Kellanova were worth $1,049,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Assetmark Inc. increased its position in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the last quarter. MCF Advisors LLC grew its position in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares in the last quarter. S.A. Mason LLC increased its stake in Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after acquiring an additional 140 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The stock was 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 of the company’s stock, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 994,464 shares of company stock valued at $80,203,479 over the last ninety days. Insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.0 %

Shares of NYSE:K traded up $0.02 on Thursday, hitting $80.80. 58,621 shares of the company traded hands, compared to its average volume of 3,011,592. The stock has a 50 day simple moving average of $80.75 and a 200-day simple moving average of $70.43. 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 $27.85 billion, a PE ratio of 27.76, a PEG 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.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on K. BNP Paribas cut 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. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday. They set a “hold” rating on the stock. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group initiated coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.