Kellanova (NYSE:K) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP decreased its position in shares of Kellanova (NYSE:K) by 69.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 208,283 shares of the company’s stock after selling 465,995 shares during the quarter. Bridgewater Associates LP’s holdings in Kellanova were worth $16,811,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Swedbank AB increased its holdings in shares of Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares during the last quarter. SG Americas Securities LLC increased its holdings in Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares in the last quarter. Principal Financial Group Inc. raised its position in Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares during the period. Atria Investments Inc acquired a new position in shares of Kellanova during the first quarter worth about $1,003,000. Finally, Tidal Investments LLC boosted its position in shares of Kellanova by 36.7% in the first quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock worth $2,145,000 after buying an additional 10,051 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on K shares. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays lifted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $76.35.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction 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 owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 1,031,247 shares of company stock worth $83,211,320 in the last three months. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Up 0.0 %

Shares of K stock opened at $81.15 on Thursday. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The business’s fifty day moving average is $80.80 and its 200-day moving average is $71.12. The stock has a market cap of $27.97 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the company earned $1.03 EPS. Kellanova’s revenue was down .7% on a year-over-year basis. Equities analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

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.