J. Safra Sarasin Holding AG Cuts Holdings in Kellanova $K

J. Safra Sarasin Holding AG lowered its stake in Kellanova (NYSE:K - Free Report) by 87.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,721 shares of the company's stock after selling 25,883 shares during the period. J. Safra Sarasin Holding AG's holdings in Kellanova were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in K. Wealth Enhancement Advisory Services LLC grew its holdings in Kellanova by 8.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,184 shares of the company's stock worth $1,310,000 after acquiring an additional 1,265 shares in the last quarter. Merit Financial Group LLC lifted its stake in Kellanova by 26.6% during the first quarter. Merit Financial Group LLC now owns 6,268 shares of the company's stock worth $517,000 after purchasing an additional 1,316 shares during the last quarter. UMB Bank n.a. increased its stake in Kellanova by 3.8% in the first quarter. UMB Bank n.a. now owns 5,284 shares of the company's stock valued at $436,000 after purchasing an additional 192 shares during the last quarter. GAMMA Investing LLC raised its holdings in Kellanova by 2.8% during the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock worth $568,000 after purchasing an additional 186 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Kellanova during the 1st quarter worth approximately $3,793,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Up 0.1%

K opened at $82.72 on Monday. The business has a 50 day simple moving average of $79.66 and a 200-day simple moving average of $80.76. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.22. The stock has a market capitalization of $28.76 billion, a P/E ratio of 21.71, a P/E/G ratio of 5.15 and a beta of 0.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Kellanova's revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. This is a boost from Kellanova's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, September 2nd. Kellanova's dividend payout ratio is 60.89%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was 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 of the company's stock, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 687,514 shares of company stock worth $54,869,342. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on K. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price target for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Kellanova in a research note on Saturday, September 27th. Finally, Wall Street Zen downgraded Kellanova from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.38.

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.

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