Kellanova (NYSE:K) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of Kellanova (NYSE:K) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,192 shares of the company’s stock after selling 2,809 shares during the period. PNC Financial Services Group Inc.’s holdings in Kellanova were worth $6,149,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of K. Blue Trust Inc. increased its stake in 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 last quarter. Family Firm Inc. acquired a new position in shares of Kellanova during the 2nd quarter valued at about $29,000. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Finally, MCF Advisors LLC increased its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Trading Up 0.2 %

NYSE:K opened at $81.17 on Friday. The stock has a market cap of $27.98 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. Kellanova has a one year low of $51.02 and a one 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 business’s 50-day simple moving average is $80.77 and its 200 day simple moving average is $70.65.

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

Kellanova Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares in the company, valued at $4,079,165,451.56. The trade was a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 1,109,047 shares of company stock valued at $89,483,556. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on K. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays upped their price target on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Piper Sandler boosted their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $76.35.

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.