Biechele Royce Advisors Sells 2,373 Shares of Kellanova (NYSE:K)

Biechele Royce Advisors cut its position in shares of Kellanova (NYSE:K) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,257 shares of the company’s stock after selling 2,373 shares during the period. Kellanova makes up about 1.0% of Biechele Royce Advisors’ portfolio, making the stock its 22nd biggest holding. Biechele Royce Advisors’ holdings in Kellanova were worth $3,168,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in K. Blue Trust Inc. lifted its position in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova in the 2nd quarter worth about $29,000. CVA Family Office LLC boosted its stake in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. BNP Paribas bought a new position in Kellanova during the 1st quarter valued at about $30,000. Finally, Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the sale, the insider now directly owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,227,864 shares of company stock valued at $98,438,243 over the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

K has been the topic of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Stifel Nicolaus raised their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Finally, StockNews.com initiated coverage on shares of Kellanova in a research note on Sunday, October 27th. They issued a “hold” rating for the company. Sixteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.96.

Kellanova Price Performance

NYSE K traded down $0.04 during trading hours on Friday, reaching $80.61. The company’s stock had a trading volume of 3,773,971 shares, compared to its average volume of 3,081,676. The firm has a market capitalization of $27.78 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.60 and a beta of 0.39. The company’s 50-day moving average is $80.63 and its two-hundred day moving average is $68.18. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a 1-year low of $50.81 and a 1-year high of $81.26.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. On average, equities analysts predict that Kellanova will post 3.7 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is currently 86.36%.

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.