Kellanova (NYSE:K) Shares Bought by Barclays PLC

Barclays PLC grew its holdings in shares of Kellanova (NYSE:K) by 134.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,800,363 shares of the company’s stock after purchasing an additional 1,033,383 shares during the period. Barclays PLC’s holdings in Kellanova were worth $145,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC lifted 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 period. MCF Advisors LLC lifted its holdings 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 buying an additional 137 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the period. Family Firm Inc. bought a new position in Kellanova during the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. 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. Wells Fargo & Company lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

Shares of NYSE:K opened at $80.70 on Wednesday. The business has a fifty day simple moving average of $80.82 and a 200 day simple moving average of $72.18. 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 1 year low of $52.46 and a 1 year high of $81.34. The firm has a market cap of $27.82 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. As a group, sell-side analysts predict that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 2.83%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the sale, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,145,830 shares of company stock worth $92,568,168. 1.80% of the stock is owned by corporate insiders.

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.