Mutual of America Capital Management LLC Sells 440 Shares of Kellanova $K

Mutual of America Capital Management LLC trimmed its holdings in Kellanova (NYSE:K) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 30,844 shares of the company’s stock after selling 440 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Kellanova were worth $2,453,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of K. Pinnacle Associates Ltd. raised its position in shares of Kellanova by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock valued at $526,000 after buying an additional 123 shares during the last quarter. Independent Advisor Alliance raised its position in shares of Kellanova by 1.8% during the first quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock valued at $605,000 after buying an additional 131 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Kellanova by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after buying an additional 132 shares during the last quarter. Cigna Investments Inc. New raised its position in shares of Kellanova by 5.3% during the second quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock valued at $222,000 after buying an additional 141 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of Kellanova by 32.7% during the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after buying an additional 177 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Trading Down 0.0%

K stock opened at $83.01 on Friday. The firm has a fifty day moving average price of $80.53 and a 200 day moving average price of $80.85. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The firm has a market cap of $28.86 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last posted its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on K. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective on the stock. Wall Street Zen cut shares of Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.38.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction 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. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 458,348 shares of company stock worth $36,597,937 over the last ninety days. 1.80% of the stock is owned by insiders.

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.