abrdn plc Buys 18,681 Shares of Kellanova (NYSE:K)

abrdn plc lifted its stake in shares of Kellanova (NYSE:K) by 1.6% during the third quarter, HoldingsChannel.com reports. The fund owned 1,212,510 shares of the company’s stock after buying an additional 18,681 shares during the quarter. abrdn plc’s holdings in Kellanova were worth $97,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of K. MCF Advisors LLC grew its stake in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares during the period. Blue Trust Inc. grew its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Kellanova by 1.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock valued at $566,000 after acquiring an additional 180 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in Kellanova by 2.6% in the third quarter. Aaron Wealth Advisors LLC now owns 7,219 shares of the company’s stock worth $583,000 after acquiring an additional 181 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on K. Stifel Nicolaus boosted their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Piper Sandler lifted their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. StockNews.com began coverage on Kellanova in a research note on Sunday. They set a “hold” rating for the company. Finally, Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.32.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the sale, the insider now owns 50,830,838 shares in the company, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the sale, the insider now directly owns 50,830,838 shares in the company, valued at approximately $3,761,990,320.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,227,864 shares of company stock valued at $98,438,243 over the last 90 days. Insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of K stock opened at $80.56 on Wednesday. The business has a fifty day moving average of $80.62 and a 200 day moving average of $67.82. Kellanova has a 1 year low of $49.79 and a 1 year high of $81.26. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The firm has a market capitalization of $27.54 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s payout ratio is currently 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.