KBC Group NV Sells 3,525 Shares of Kellanova (NYSE:K)

KBC Group NV cut its position in shares of Kellanova (NYSE:K) by 6.1% in the third quarter, HoldingsChannel reports. The firm owned 54,234 shares of the company’s stock after selling 3,525 shares during the period. KBC Group NV’s holdings in Kellanova were worth $4,377,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. D. E. Shaw & Co. Inc. boosted its stake in shares of Kellanova by 766.5% during 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 purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Kellanova during the 2nd quarter valued at $88,065,000. Point72 Asset Management L.P. purchased a new position in shares of Kellanova in the 2nd quarter valued at $63,585,000. Boston Partners raised its position in shares of Kellanova by 117.1% in the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after acquiring an additional 689,395 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Kellanova by 130.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock worth $62,122,000 after purchasing an additional 608,989 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,072,264 shares of company stock worth $86,452,375 over the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on K shares. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price for the company. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Down 0.3 %

Shares of K stock opened at $80.57 on Monday. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The firm has a market capitalization of $27.77 billion, a PE ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.39. 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 stock’s 50-day simple moving average is $80.71 and its 200-day simple moving average is $69.99.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping 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 company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. Equities analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio is presently 78.35%.

About Kellanova

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.