Kellanova (NYSE:K) Holdings Decreased by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in Kellanova (NYSE:K) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,066 shares of the company’s stock after selling 2,845 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Kellanova were worth $2,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB boosted its stake in shares of Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after buying an additional 46,450 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after purchasing an additional 10,676 shares in the last quarter. SG Americas Securities LLC increased its position in Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after purchasing an additional 217,320 shares during the last quarter. M&G Plc purchased a new stake in shares of Kellanova during the 1st quarter worth about $9,346,000. Finally, Atria Investments Inc acquired a new stake in shares of Kellanova during the 1st quarter valued at about $1,003,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Stock Performance

NYSE K opened at $80.83 on Thursday. The company’s fifty day moving average is $80.63 and its two-hundred day moving average is $68.00. The firm has a market capitalization of $27.86 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a 52-week low of $50.14 and a 52-week high of $81.26.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 2.82%. Kellanova’s dividend payout ratio (DPR) is currently 86.36%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value 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. 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 stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,227,864 shares of company stock worth $98,438,243 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.