Mogy Joel R Investment Counsel Inc. Has $263,000 Stake in Kellanova (NYSE:K)

Mogy Joel R Investment Counsel Inc. decreased its holdings in shares of Kellanova (NYSE:K) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,700 shares of the company’s stock after selling 300 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Kellanova were worth $263,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Kellanova by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock valued at $330,841,000 after acquiring an additional 200,870 shares during the last quarter. Invesco Ltd. lifted its stake in Kellanova by 29.4% in the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after acquiring an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp lifted its stake in Kellanova by 27.4% in the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after acquiring an additional 1,051,922 shares during the last quarter. Northern Trust Corp lifted its stake in Kellanova by 8.7% in the third quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after acquiring an additional 328,658 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Kellanova by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company’s stock valued at $147,273,000 after purchasing an additional 61,797 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. DA Davidson began coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Stifel Nicolaus raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.27.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the sale, the insider now owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 933,600 shares of company stock worth $51,632,748. 1.80% of the stock is owned by corporate insiders.

Kellanova Trading Down 1.2 %

NYSE:K traded down $0.72 during mid-day trading on Friday, hitting $57.73. 4,422,753 shares of the company’s stock were exchanged, compared to its average volume of 2,223,179. The company has a 50 day simple moving average of $55.96 and a 200-day simple moving average of $54.27. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The firm has a market capitalization of $19.73 billion, a P/E ratio of 20.99, a PEG ratio of 2.24 and a beta of 0.40.

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

Kellanova Dividend Announcement

The business 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. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Kellanova’s dividend payout ratio is currently 81.45%.

Kellanova Company 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.