PNC Financial Services Group Inc. decreased its holdings in Kellanova (NYSE:K – Free Report) by 8.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 61,945 shares of the company’s stock after selling 5,512 shares during the quarter. PNC Financial Services Group Inc. owned 0.11% of Kellanova worth $3,686,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in K. SPC Financial Inc. increased its stake in shares of Kellanova by 4.6% during the 3rd quarter. SPC Financial Inc. now owns 9,227 shares of the company’s stock worth $549,000 after purchasing an additional 405 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its holdings in Kellanova by 30.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 4,223 shares of the company’s stock valued at $251,000 after purchasing an additional 990 shares during the period. Deutsche Bank AG lifted its holdings in shares of Kellanova by 27.4% during the 3rd quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock worth $95,670,000 after acquiring an additional 345,830 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Kellanova by 23.3% during the 3rd quarter. Citigroup Inc. now owns 650,529 shares of the company’s stock worth $38,713,000 after acquiring an additional 122,794 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Kellanova by 2.6% during the 3rd quarter. Blair William & Co. IL now owns 26,777 shares of the company’s stock worth $1,594,000 after acquiring an additional 668 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.
Kellanova Trading Up 0.6 %
NYSE:K opened at $56.45 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The firm has a market cap of $19.34 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.07 and a beta of 0.39. The firm has a 50-day simple moving average of $54.98 and a 200-day simple moving average of $55.46. Kellanova has a one year low of $47.63 and a one year high of $72.30.
Kellanova (NYSE:K – Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. Equities analysts anticipate that Kellanova will post 3.57 EPS for the current fiscal year.
Kellanova Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.
Analysts Set New Price Targets
K has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Piper Sandler lifted their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Morgan Stanley reduced their price target on shares of Kellanova from $68.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Thirteen 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, Kellanova has an average rating of “Hold” and a consensus target price of $61.93.
Insider Buying and Selling
In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $53.89, for a total value of $4,192,642.00. Following the completion of the sale, the insider now directly owns 53,320,438 shares in the company, valued at $2,873,438,403.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 855,800 shares of company stock valued at $46,492,502. Corporate insiders own 1.40% of the company’s stock.
Kellanova Company Profile
Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.
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Source: defenseworld.net
