Brown Brothers Harriman & Co. Cuts Position in Kellanova (NYSE:K)

Brown Brothers Harriman & Co. decreased its stake in Kellanova (NYSE:K) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,484 shares of the company’s stock after selling 795 shares during the period. Brown Brothers Harriman & Co.’s holdings in Kellanova were worth $604,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Investors Research Corp increased its position in shares of Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after buying an additional 125 shares in the last quarter. Assetmark Inc. increased its holdings in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC increased its holdings in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. S.A. Mason LLC raised its position in Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after acquiring an additional 140 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on K shares. JPMorgan Chase & Co. lifted their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Evercore ISI raised Kellanova to a “hold” rating in a research note on Friday, August 2nd. StockNews.com initiated coverage on shares of Kellanova in a research note on Wednesday, November 20th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Trading Up 0.0 %

K stock opened at $81.13 on Wednesday. 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 $27.97 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.61 and a beta of 0.39. The business has a fifty day simple moving average of $80.79 and a 200-day simple moving average of $70.99. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock worth $83,211,320 over the last ninety days. 1.80% of the stock is owned by company 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.