Daymark Wealth Partners LLC cut its stake in shares of Kellanova (NYSE:K - Free Report) by 25.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 221,350 shares of the company's stock after selling 75,334 shares during the quarter. Daymark Wealth Partners LLC owned 0.06% of Kellanova worth $17,865,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of K. Blue Trust Inc. raised its stake 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 position in Kellanova by 1.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company's stock worth $566,000 after acquiring an additional 180 shares in the last quarter. IFG Advisory LLC lifted its holdings in Kellanova by 1.4% in the second quarter. IFG Advisory LLC now owns 13,825 shares of the company's stock valued at $797,000 after acquiring an additional 189 shares during the period. Eukles Asset Management boosted its position in shares of Kellanova by 0.7% during the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company's stock worth $1,521,000 after purchasing an additional 193 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Kellanova by 61.9% during the 2nd 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. 83.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on K. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. DA Davidson lowered Kellanova from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Bank of America raised Kellanova from a "neutral" rating to a "buy" rating and raised their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Royal Bank of Canada downgraded Kellanova from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Argus cut Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $74.32.
Check Out Our Latest Analysis on K
Shares of Kellanova stock traded up $0.01 during trading hours on Wednesday, reaching $80.57. The stock had a trading volume of 252,292 shares, compared to its average volume of 3,185,963. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 1 year low of $47.63 and a 1 year high of $81.00. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The firm has a 50 day simple moving average of $77.95 and a two-hundred day simple moving average of $65.29.
Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $1.25 EPS. The business's revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Kellanova's previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova's dividend payout ratio (DPR) is presently 85.39%.
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the completion of the sale, the insider now owns 50,986,438 shares in the company, valued at $2,940,387,879.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company's stock, valued at approximately $4,051,249,113.75. This trade 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 77,800 shares of the business's stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $57.67, for a total value of $4,486,726.00. Following the completion of the sale, the insider now directly owns 50,986,438 shares of the company's stock, valued at approximately $2,940,387,879.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,117,515 shares of company stock valued at $83,979,855 in the last quarter. Company insiders own 1.80% of the company's stock.
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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