Janney Montgomery Scott LLC Trims Holdings in Kellanova (NYSE:K)

Janney Montgomery Scott LLC cut its holdings in Kellanova (NYSE:K) by 43.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,119 shares of the company’s stock after selling 18,105 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Kellanova were worth $1,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Dimensional Fund Advisors LP boosted its stake in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares in the last quarter. Yacktman Asset Management LP boosted its stake in Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after purchasing an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new position in Kellanova in the 2nd quarter worth about $88,065,000. Finally, TD Asset Management Inc boosted its stake in Kellanova by 3.0% in the 2nd quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after purchasing an additional 40,406 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The sale 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 business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the sale, the insider now directly owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,072,264 shares of company stock valued at $86,452,375 over the last three months. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on K shares. Barclays upped their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Finally, DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and upped their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Trading Up 0.2 %

Kellanova stock opened at $81.18 on Thursday. The stock has a market cap of $27.98 billion, a P/E ratio of 27.89, a PEG ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The firm’s 50 day moving average price is $80.67 and its 200-day moving average price is $69.50.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share 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 company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

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.