Kellanova (NYSE:K) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in Kellanova (NYSE:K) by 58.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 504,106 shares of the company’s stock after selling 714,500 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of Kellanova worth $29,077,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Kellanova by 57.2% during 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 in the last quarter. Family Firm Inc. bought a new position in shares of Kellanova during the 2nd quarter valued at about $29,000. BNP Paribas acquired a new position in shares of Kellanova in the first quarter worth about $30,000. Ridgewood Investments LLC acquired a new position in shares of Kellanova in the second quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Kellanova by 139.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after buying an additional 428 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 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 of the company’s stock, valued at approximately $2,871,114,013.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was 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 in the company, valued at approximately $4,051,249,113.75. The disclosure for this sale can be found here. Insiders have sold 929,366 shares of company stock valued at $65,106,291 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Kellanova Price Performance

NYSE:K opened at $80.65 on Friday. The stock has a market cap of $27.57 billion, a P/E ratio of 30.21, a PEG ratio of 2.57 and a beta of 0.39. Kellanova has a one year low of $47.63 and a one year high of $80.97. The company has a fifty day moving average price of $71.90 and a 200 day moving average price of $62.80. 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 (NYSE:K) last released its 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. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. Analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is 85.39%.

Wall Street Analyst Weigh In

Several analysts recently commented on K shares. The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. Piper Sandler raised their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, StockNews.com assumed coverage on shares of Kellanova in a research report on Tuesday. They set a “hold” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average target price of $74.32.

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.