Kellanova (NYSE:K) Shares Sold by Maverick Capital Ltd.

Maverick Capital Ltd. lessened its position in shares of Kellanova (NYSE:K) by 56.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 667,325 shares of the company’s stock after selling 859,464 shares during the period. Maverick Capital Ltd.’s holdings in Kellanova were worth $53,860,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investors Research Corp grew its position in shares of Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares during the period. Assetmark Inc. grew its position in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the period. MCF Advisors LLC grew its position in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the period. S.A. Mason LLC grew its position in shares of Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the topic of a number of recent research reports. Barclays boosted their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Stifel Nicolaus boosted their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Price Performance

Shares of NYSE K opened at $81.30 on Friday. The stock has a market cap of $28.02 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.61 and a beta of 0.39. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company’s 50-day moving average price is $80.82 and its 200 day moving average price is $71.26. 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 (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 1,145,830 shares of company stock worth $92,516,606. Company insiders own 1.80% of the company’s stock.

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.