Kellanova (NYSE:K) Shares Purchased by Citigroup Inc.

Citigroup Inc. grew its holdings in shares of Kellanova (NYSE:K) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 323,619 shares of the company’s stock after purchasing an additional 4,239 shares during the period. Citigroup Inc. owned approximately 0.09% of Kellanova worth $26,119,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. purchased a new position in Kellanova in the second quarter valued at about $29,000. CVA Family Office LLC lifted its position in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted 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 acquiring an additional 200 shares in the last quarter. Finally, MCF Advisors LLC grew 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 worth $34,000 after acquiring an additional 137 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

Kellanova stock opened at $81.11 on Tuesday. Kellanova has a 1 year low of $51.02 and a 1 year 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 firm has a 50 day moving average price of $80.78 and a 200 day moving average price of $70.85. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) 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 company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. This trade represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 1,109,047 shares of company stock worth $89,483,556. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

K has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, Piper Sandler upped their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.35.

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.