Central Pacific Bank Trust Division decreased its position in shares of Kellanova (NYSE:K – Free Report) by 33.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,000 shares of the company’s stock after selling 500 shares during the period. Central Pacific Bank Trust Division’s holdings in Kellanova were worth $81,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of K. Blue Trust Inc. raised its holdings in Kellanova by 57.2% during 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 in the last quarter. Family Firm Inc. bought a new position in shares of Kellanova in the second quarter worth about $29,000. BNP Paribas bought a new position in shares of Kellanova in the first quarter worth about $30,000. Newbridge Financial Services Group Inc. increased its stake in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Kellanova in the second quarter worth about $39,000. Institutional investors and hedge funds own 83.87% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research note on Monday, August 5th. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Stifel Nicolaus boosted their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $74.32.
Kellanova Trading Down 0.0 %
NYSE K traded down $0.02 on Friday, reaching $80.61. The company had a trading volume of 1,198,123 shares, compared to its average volume of 3,214,510. The stock’s 50 day moving average is $77.02 and its 200-day moving average is $64.80. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a 52 week low of $47.63 and a 52 week high of $81.00.
Kellanova (NYSE:K – Get Free Report) last announced its quarterly earnings results 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 company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts predict that Kellanova will post 3.7 earnings per share for the current year.
Kellanova Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Tuesday, September 3rd. Kellanova’s dividend payout ratio is 85.39%.
Insider Transactions at Kellanova
In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at approximately $2,869,299,533.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,080,732 shares of company stock valued at $79,115,595 over the last three months. Company insiders own 1.80% of the company’s stock.
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.
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