Mogy Joel R Investment Counsel Inc. Reduces Stock Holdings in Kellanova (NYSE:K)

Mogy Joel R Investment Counsel Inc. trimmed its position in Kellanova (NYSE:K) by 6.0% during the 4th quarter, HoldingsChannel reports. The firm owned 4,700 shares of the company’s stock after selling 300 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Kellanova were worth $263,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of K. Invesco Ltd. lifted its position in shares of Kellanova by 29.4% during the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after buying an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after buying an additional 1,051,922 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Kellanova by 738.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock valued at $23,522,000 after buying an additional 370,607 shares in the last quarter. Deutsche Bank AG lifted its position 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 valued at $95,670,000 after buying an additional 345,830 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Kellanova by 8.7% during the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after buying an additional 328,658 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Down 1.2 %

K stock traded down $0.72 during midday trading on Friday, reaching $57.73. The company’s stock had a trading volume of 4,422,753 shares, compared to its average volume of 2,223,179. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30. 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 stock has a fifty day simple moving average of $55.96 and a two-hundred day simple moving average of $54.27. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.24 and a beta of 0.40.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on K. Wells Fargo & Company lifted their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Barclays boosted their price target on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Citigroup initiated coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target on the stock. Stifel Nicolaus boosted their price target on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Piper Sandler boosted their price target on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.27.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the transaction, the insider now directly owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 933,600 shares of company stock worth $51,632,748 over the last three months. 1.80% of the stock is currently owned by insiders.

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.