SG Americas Securities LLC Sells 170,007 Shares of Kellanova (NYSE:K)

SG Americas Securities LLC lowered its stake in shares of Kellanova (NYSE:K) by 65.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,894 shares of the company’s stock after selling 170,007 shares during the quarter. SG Americas Securities LLC’s holdings in Kellanova were worth $7,336,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its position in Kellanova by 4.3% during the 1st 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 during the period. Banque Cantonale Vaudoise lifted its position in Kellanova by 35.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after purchasing an additional 20,866 shares during the period. M&G Plc acquired a new position in Kellanova during the 1st quarter valued at about $9,346,000. Atria Investments Inc acquired a new position in Kellanova during the 1st quarter valued at about $1,003,000. Finally, Los Angeles Capital Management LLC acquired a new position in Kellanova during the 1st quarter valued at about $2,328,000. Institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’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 transaction of $4,367,692.00. Following the completion of the transaction, the insider now directly owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’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 completion of the transaction, the insider now directly owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now directly 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 sold 1,080,732 shares of company stock valued at $79,115,595 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

Shares of K stock opened at $80.61 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The company has a market capitalization of $27.56 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company’s 50 day moving average price is $77.02 and its two-hundred day moving average price is $64.87. Kellanova has a 52 week low of $47.63 and a 52 week high of $81.00.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, analysts expect that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This is a boost 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 was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on K. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $70.00 in a research 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 company a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.