Kellanova (NYSE:K) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Kellanova (NYSE:K) by 59.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,325 shares of the company’s stock after selling 294,253 shares during the period. Victory Capital Management Inc. owned about 0.06% of Kellanova worth $16,330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sei Investments Co. boosted its holdings in Kellanova by 2.6% in the 1st quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock worth $4,537,000 after acquiring an additional 1,984 shares during the period. Edgestream Partners L.P. grew its holdings in Kellanova by 23.2% during the 1st quarter. Edgestream Partners L.P. now owns 22,751 shares of the company’s stock valued at $1,303,000 after purchasing an additional 4,280 shares in the last quarter. Clearbridge Investments LLC increased its stake in Kellanova by 3.0% during the 1st quarter. Clearbridge Investments LLC now owns 651,836 shares of the company’s stock worth $37,344,000 after buying an additional 19,170 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Kellanova by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares in the last quarter. Finally, LGT Group Foundation boosted its position in Kellanova by 49.5% in the 1st quarter. LGT Group Foundation now owns 8,075 shares of the company’s stock valued at $463,000 after buying an additional 2,675 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Down 0.1 %

Shares of NYSE:K opened at $80.50 on Wednesday. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market cap of $27.75 billion, a PE ratio of 27.66, a P/E/G ratio of 2.59 and a beta of 0.39. The company’s 50-day moving average price is $80.73 and its 200 day moving average price is $70.29.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Analyst Ratings Changes

A number of research analysts recently commented on K shares. Piper Sandler increased their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. Barclays lifted their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and upped their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $76.35.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 994,464 shares of company stock worth $80,203,479 in the last 90 days. Corporate 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.