ABC Arbitrage SA Sells 22,787 Shares of Kellanova $K

ABC Arbitrage SA trimmed its position in shares of Kellanova (NYSE:K) by 35.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,649 shares of the company’s stock after selling 22,787 shares during the period. ABC Arbitrage SA’s holdings in Kellanova were worth $3,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Everett Harris & Co. CA raised its stake in Kellanova by 1.7% during the second quarter. Everett Harris & Co. CA now owns 11,746 shares of the company’s stock valued at $934,000 after purchasing an additional 196 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Kellanova by 4.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 81,977 shares of the company’s stock valued at $6,520,000 after buying an additional 3,354 shares in the last quarter. Forsta AP Fonden lifted its holdings in shares of Kellanova by 1.6% in the 2nd quarter. Forsta AP Fonden now owns 68,800 shares of the company’s stock valued at $5,472,000 after acquiring an additional 1,100 shares during the last quarter. KBC Group NV lifted its holdings in shares of Kellanova by 550.9% in the 2nd quarter. KBC Group NV now owns 412,422 shares of the company’s stock valued at $32,800,000 after acquiring an additional 349,058 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in Kellanova by 1.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 281,983 shares of the company’s stock worth $22,426,000 after acquiring an additional 3,500 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 343,765 shares of company stock valued at $27,455,360 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of K opened at $83.32 on Wednesday. The company has a market cap of $28.99 billion, a P/E ratio of 21.87, a PEG ratio of 5.16 and a beta of 0.23. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.42. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average price is $81.35 and its 200 day moving average price is $80.88.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company’s revenue was up .8% on a year-over-year basis. On average, research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. Kellanova’s dividend payout ratio is currently 63.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on K. JPMorgan Chase & Co. started coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective on the stock. Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.50.

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.