Vontobel Holding Ltd. Sells 98,079 Shares of Kellanova (NYSE:K)

Vontobel Holding Ltd. cut its position in shares of Kellanova (NYSE:K) by 81.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,043 shares of the company’s stock after selling 98,079 shares during the period. Vontobel Holding Ltd.’s holdings in Kellanova were worth $1,779,000 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. raised its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Kellanova by 1.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock worth $566,000 after acquiring an additional 180 shares in the last quarter. IFG Advisory LLC grew its position in Kellanova by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after acquiring an additional 189 shares during the last quarter. Eukles Asset Management increased its holdings in Kellanova by 0.7% during the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after purchasing an additional 193 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $80.72, for a total value of $9,249,139.76. Following the completion of the transaction, the insider now directly owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at $2,913,501,352.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total value of $9,249,139.76. Following the completion of the sale, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,154,298 shares of company stock worth $88,847,101. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lifted their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target for the company. Evercore ISI raised Kellanova to a “hold” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.32.

Kellanova Price Performance

Kellanova stock opened at $81.05 on Friday. The firm has a market capitalization of $27.71 billion, a P/E ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. The business has a 50-day moving average of $80.19 and a 200-day moving average of $66.58. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. Kellanova has a 1 year low of $49.28 and a 1 year high of $81.21.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, equities analysts anticipate 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 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 was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is presently 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.