Kellanova (NYSE:K) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division trimmed its holdings in shares of Kellanova (NYSE:K) by 33.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the company’s stock after selling 500 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Kellanova were worth $81,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in K. Blue Trust Inc. raised its stake 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 last quarter. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter valued at $29,000. BNP Paribas purchased a new stake in Kellanova in the 1st quarter valued at $30,000. Newbridge Financial Services Group Inc. grew 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 buying an additional 200 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Kellanova in the 2nd quarter valued at $39,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Trading Down 0.0 %

Shares of NYSE:K traded down $0.02 during midday trading on Friday, reaching $80.61. The company’s stock had a trading volume of 1,198,123 shares, compared to its average volume of 3,214,510. The firm has a market cap of $27.56 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a 1 year low of $47.63 and a 1 year high of $81.00. The business has a 50 day moving average price of $77.02 and a 200 day moving average price of $64.80.

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

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a $0.57 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is presently 85.39%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Piper Sandler upped their price objective on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price for the company. StockNews.com started coverage on Kellanova in a research note on Thursday. They set a “hold” rating for the company. Finally, BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research note on Monday, August 5th. Fifteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $74.32.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the sale, the insider now owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 114,583 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $4,062,201,136.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the sale, the insider now owns 51,142,038 shares in the company, valued at $2,871,114,013.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,080,732 shares of company stock valued at $79,115,595 over the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Company 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.