Kellanova (NYSE:K) Stock Holdings Trimmed by D.A. Davidson & CO.

D.A. Davidson & CO. decreased its holdings in Kellanova (NYSE:K) by 38.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,108 shares of the company’s stock after selling 12,452 shares during the quarter. D.A. Davidson & CO.’s holdings in Kellanova were worth $1,623,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares during the period. Yacktman Asset Management LP lifted its holdings in shares of Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after buying an additional 10,510 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Kellanova by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after buying an additional 35,268 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Kellanova during the second quarter worth about $88,065,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Trading Up 0.2 %

Shares of NYSE:K opened at $81.29 on Friday. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market cap of $28.02 billion, a P/E ratio of 27.93, a P/E/G ratio of 2.61 and a beta of 0.39. The stock’s 50-day moving average is $80.82 and its 200-day moving average is $71.32.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business posted $1.03 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analyst Weigh In

Several research firms recently commented on K. Piper Sandler increased their target price on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group assumed coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price on the stock. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.35.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the sale, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,145,830 shares of company stock worth $92,516,606 in the last ninety 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.