B. Metzler seel. Sohn & Co. Holding AG Buys Shares of 52,171 Kellanova (NYSE:K)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kellanova (NYSE:K) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 52,171 shares of the company’s stock, valued at approximately $4,211,000.

A number of other institutional investors have also recently bought and sold shares of the stock. CVA Family Office LLC boosted its holdings in shares of Kellanova by 529.3% in the 3rd 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. MCF Advisors LLC grew its position in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the last quarter. Blue Trust Inc. increased 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 buying an additional 170 shares during the period. Family Firm Inc. bought a new position in Kellanova during the second quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of 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 buying an additional 200 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on K shares. StockNews.com assumed coverage on shares of Kellanova in a report on Wednesday. They set a “hold” rating for the company. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada downgraded 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 research note on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. Finally, Wells Fargo & Company upped their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Stock Up 0.3 %

Shares of NYSE:K opened at $80.77 on Thursday. The business’s 50 day simple moving average is $80.75 and its two-hundred day simple moving average is $70.43. Kellanova has a 52-week low of $51.02 and a 52-week 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 market cap of $27.84 billion, a P/E ratio of 27.76, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.16 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s payout ratio is currently 78.35%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 49,795,357 shares in the company, valued at $4,031,432,102.72. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 994,464 shares of company stock valued at $80,203,479 in the last three months. Company insiders own 1.80% of the company’s stock.

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.