Raymond James Trust N.A. Reduces Holdings in Kellanova (NYSE:K)

Raymond James Trust N.A. cut its holdings in Kellanova (NYSE:K) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,552 shares of the company’s stock after selling 2,374 shares during the period. Raymond James Trust N.A.’s holdings in Kellanova were worth $1,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of K. Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in shares of Kellanova during the 2nd quarter valued at approximately $29,000. CVA Family Office LLC increased 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. raised its stake in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC lifted its position in Kellanova by 48.8% during 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 last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K stock opened at $81.17 on Monday. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $80.77 and a two-hundred day simple moving average of $70.72. The stock has a market capitalization of $27.98 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.60 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 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 analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. On average, analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the transaction, the insider now owns 49,337,025 shares in the company, valued at $3,995,805,654.75. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,109,047 shares of company stock worth $89,483,556 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on K. JPMorgan Chase & Co. upped their target price 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. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Stifel Nicolaus raised their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $76.35.

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.