Massmutual Trust Co. FSB ADV Has $152,000 Holdings in Kellanova (NYSE:K)

Massmutual Trust Co. FSB ADV decreased its stake in Kellanova (NYSE:K) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,880 shares of the company’s stock after selling 187 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Kellanova were worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in K. CANADA LIFE ASSURANCE Co grew its holdings in shares of Kellanova by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after buying an additional 10,676 shares during the period. SG Americas Securities LLC grew its stake in Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares during the period. Banque Cantonale Vaudoise increased its holdings in shares of Kellanova by 35.5% in the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock worth $4,566,000 after acquiring an additional 20,866 shares in the last quarter. M&G Plc bought a new stake in shares of Kellanova in the first quarter worth about $9,346,000. Finally, Atria Investments Inc acquired a new stake in shares of Kellanova during the first quarter worth about $1,003,000. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Piper Sandler lifted their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus price target of $74.32.

Insider Activity 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, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 15th. The shares were sold at an average price of $56.19, for a total value of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,080,732 shares of company stock valued at $79,115,595 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Shares of NYSE K opened at $80.61 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The firm has a market cap of $27.56 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.59 and a beta of 0.39. The stock’s fifty day moving average price is $77.02 and its two-hundred day moving average price is $64.87. Kellanova has a one year low of $47.63 and a one year high of $81.00.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. On average, equities analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

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

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.