Simmons Bank Takes Position in Kellanova (NYSE:K)

Simmons Bank bought a new position in Kellanova (NYSE:K) in the third quarter, Holdings Channel reports. The firm bought 2,710 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. acquired a new stake in Kellanova during the 2nd quarter valued at approximately $29,000. 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 acquiring an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in Kellanova by 48.8% during 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 period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

NYSE:K opened at $80.86 on Friday. The company’s 50-day moving average is $80.69 and its two-hundred day moving average is $69.67. 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 current ratio of 0.77 and a quick ratio of 0.53. The firm has a market capitalization of $27.87 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings data 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 return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given 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 yield of 2.82%. Kellanova’s payout ratio is currently 78.35%.

Analysts Set New Price Targets

Several research firms recently commented on K. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research 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 report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Insider Buying and Selling at Kellanova

In other 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 sale, the insider now owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This 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 can be accessed through the SEC website. Insiders have sold 1,072,264 shares of company stock valued at $86,452,375 over the last 90 days. 1.80% of the stock is owned by insiders.

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.