Verity Asset Management Inc. Sells 1,086 Shares of Kellanova (NYSE:K)

Verity Asset Management Inc. lessened its stake in Kellanova (NYSE:K) by 15.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,950 shares of the company’s stock after selling 1,086 shares during the period. Verity Asset Management Inc.’s holdings in Kellanova were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in K. CVA Family Office LLC boosted 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 in the last quarter. MCF Advisors LLC boosted its holdings 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 in the last quarter. Blue Trust Inc. boosted its holdings in Kellanova by 57.2% during 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 in the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova in the 2nd quarter valued at approximately $29,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of 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 in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on K. Stifel Nicolaus boosted their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Piper Sandler increased 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. Deutsche Bank Aktiengesellschaft lifted their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Sixteen 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, Kellanova has an average rating of “Hold” and a consensus price target of $74.96.

Kellanova Price Performance

Shares of K opened at $80.65 on Friday. The firm has a market capitalization of $27.80 billion, a PE ratio of 27.71, a PEG ratio of 2.59 and a beta of 0.39. 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 company’s 50-day moving average is $80.64 and its 200-day moving average is $68.87. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.26.

Kellanova (NYSE:K) last posted 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 firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business earned $1.03 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

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 issued 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 of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Insider Buying and Selling

In other Kellanova 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 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the transaction, the insider now directly owns 50,753,038 shares in the company, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,150,064 shares of company stock worth $92,680,265. Company insiders own 1.80% of the company’s stock.

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.