Keybank National Association OH Cuts Holdings in Kellanova $K

Keybank National Association OH reduced its holdings in Kellanova (NYSE:K) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,705,514 shares of the company’s stock after selling 12,984 shares during the quarter. Kellanova comprises 5.8% of Keybank National Association OH’s investment portfolio, making the stock its 2nd largest position. Keybank National Association OH owned approximately 5.67% of Kellanova worth $1,567,180,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in K. Financial Network Wealth Advisors LLC bought a new stake in shares of Kellanova in the 1st quarter worth approximately $25,000. Trust Co. of Toledo NA OH purchased a new position in shares of Kellanova in the 2nd quarter valued at approximately $45,000. Dagco Inc. purchased a new position in shares of Kellanova in the 1st quarter valued at approximately $49,000. Cypress Capital Management LLC WY purchased a new position in shares of Kellanova in the 1st quarter valued at approximately $54,000. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Kellanova by 32.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after purchasing an additional 177 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on K. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, JPMorgan Chase & Co. began coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average price target of $83.38.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 343,765 shares of company stock worth $27,455,360. Insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.1%

Kellanova stock opened at $83.03 on Thursday. The firm has a market cap of $28.87 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 5.16 and a beta of 0.24. The stock has a fifty day simple moving average of $80.72 and a two-hundred day simple moving average of $80.85. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.22. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. Equities analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s payout ratio is presently 60.89%.

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.