B. Metzler seel. Sohn & Co. Holding AG Takes $4.21 Million Position in Kellanova (NYSE:K)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Kellanova (NYSE:K) during the third quarter, Holdings Channel.com reports. The fund acquired 52,171 shares of the company’s stock, valued at approximately $4,211,000.

Several other large investors have also added to or reduced their stakes in K. 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 valued at $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova during the second quarter valued at $29,000. CVA Family Office LLC grew its position in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% in the 2nd 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 last quarter. Finally, MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K stock opened at $80.77 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The company has a market capitalization of $27.84 billion, a P/E ratio of 27.76, a PEG ratio of 2.59 and a beta of 0.39. The stock has a 50 day moving average price of $80.75 and a two-hundred day moving average price of $70.43.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. 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%.

Analysts Set New Price Targets

Several brokerages have recently commented on K. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus target price of $76.35.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 994,464 shares of company stock valued at $80,203,479 in the last 90 days. Insiders own 1.80% of the company’s stock.

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.