Kellanova (NYSE:K) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise decreased its holdings in shares of Kellanova (NYSE:K) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 64,773 shares of the company’s stock after selling 1,527 shares during the period. Banque Cantonale Vaudoise’s holdings in Kellanova were worth $5,227,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of K. Blue Trust Inc. lifted its position in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the period. Family Firm Inc. acquired a new stake in shares of Kellanova during the second quarter worth about $29,000. CVA Family Office LLC boosted its position in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. Finally, MCF Advisors LLC lifted its stake in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. The trade was a 0.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 1,072,264 shares of company stock valued at $86,452,375. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

K has been the topic of a number of research reports. 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 price objective on the stock. Barclays lifted their price objective on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Finally, Piper Sandler raised their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

K opened at $80.60 on Tuesday. The firm’s fifty day simple moving average is $80.72 and its two-hundred day simple moving average is $70.15. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company posted $1.03 EPS. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared 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. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Kellanova 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.