Camelot Portfolios LLC Lowers Stock Holdings in Kellanova (NYSE:K)

Camelot Portfolios LLC cut its holdings in shares of Kellanova (NYSE:K) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,162 shares of the company’s stock after selling 168 shares during the period. Camelot Portfolios LLC’s holdings in Kellanova were worth $337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Foundations Investment Advisors LLC purchased a new position in Kellanova in the third quarter valued at $488,000. Greenleaf Trust raised its position in Kellanova by 6.3% in the 3rd quarter. Greenleaf Trust now owns 12,796 shares of the company’s stock valued at $1,033,000 after purchasing an additional 759 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Kellanova by 7,849.5% in the 3rd quarter. International Assets Investment Management LLC now owns 86,729 shares of the company’s stock valued at $7,000,000 after buying an additional 85,638 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Kellanova by 27.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 24,909 shares of the company’s stock worth $2,010,000 after buying an additional 5,331 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in Kellanova in the third quarter valued at approximately $238,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on K shares. StockNews.com began coverage on shares of Kellanova in a research report on Sunday, February 16th. They issued a “hold” rating on the stock. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus target price of $77.96.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the sale, the insider now owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,145,830 shares of company stock worth $93,291,187 in the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $82.63 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market cap of $28.48 billion, a P/E ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37. The stock has a 50 day moving average of $81.51 and a two-hundred day moving average of $80.64. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.72.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

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.