Credit Industriel ET Commercial Has $48,000 Stake in Kellanova $K

Credit Industriel ET Commercial lowered its holdings in Kellanova (NYSE:K) by 99.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 600 shares of the company’s stock after selling 62,400 shares during the quarter. Credit Industriel ET Commercial’s holdings in Kellanova were worth $48,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of K. Syquant Capital Sas lifted its position in shares of Kellanova by 123.6% during the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after purchasing an additional 632,168 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Kellanova by 6.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,258 shares of the company’s stock valued at $6,860,000 after buying an additional 5,524 shares during the last quarter. Citigroup Inc. lifted its position in shares of Kellanova by 101.6% during the 1st quarter. Citigroup Inc. now owns 457,138 shares of the company’s stock worth $37,709,000 after buying an additional 230,397 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Kellanova in the 2nd quarter worth approximately $364,000. Finally, Wealthfront Advisers LLC boosted its stake in shares of Kellanova by 6.9% in the 1st quarter. Wealthfront Advisers LLC now owns 135,439 shares of the company’s stock worth $11,172,000 after buying an additional 8,718 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 343,765 shares of company stock valued at $27,455,360. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Up 0.1%

Shares of NYSE K opened at $83.30 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The stock has a market capitalization of $28.98 billion, a PE ratio of 21.86, a P/E/G ratio of 5.16 and a beta of 0.23. Kellanova has a one year low of $76.48 and a one year high of $83.42. The business’s fifty day moving average price is $81.19 and its 200-day moving average price is $80.90.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. On average, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st. Kellanova’s dividend payout ratio is presently 63.74%.

Analysts Set New Price Targets

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