Lifeworks Advisors LLC Sells 424 Shares of Kellanova (NYSE:K)

Lifeworks Advisors LLC trimmed its holdings in Kellanova (NYSE:K) by 5.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,254 shares of the company’s stock after selling 424 shares during the quarter. Lifeworks Advisors LLC’s holdings in Kellanova were worth $585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its position in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. purchased a new position in Kellanova in the second quarter worth about $29,000. CVA Family Office LLC boosted its position in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position 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 during the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. Piper Sandler lifted their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Stock Down 0.4 %

NYSE K opened at $80.86 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The stock’s 50 day moving average is $80.69 and its 200 day moving average is $69.67. The stock has a market cap of $27.87 billion, a PE ratio of 27.79, a P/E/G ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue was down .7% compared to the same quarter last year. Research analysts predict that Kellanova will post 3.74 EPS 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Insiders Place Their Bets

In other 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 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,072,264 shares of company stock valued at $86,452,375 in the last quarter. 1.80% of the stock is currently owned by insiders.

Kellanova 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.