Commonwealth Equity Services LLC Reduces Position in Kellanova (NYSE:K)

Commonwealth Equity Services LLC cut its holdings in shares of Kellanova (NYSE:K) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,137 shares of the company’s stock after selling 9,933 shares during the period. Commonwealth Equity Services LLC’s holdings in Kellanova were worth $12,966,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Kellanova in the fourth quarter worth about $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. First Horizon Advisors Inc. raised its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares during the period. Finally, Sherman Asset Management Inc. bought a new position in shares of Kellanova in the fourth quarter worth about $43,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on K. StockNews.com began coverage on Kellanova in a research note on Wednesday, March 12th. 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 research note on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

NYSE:K opened at $82.36 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1 year low of $54.47 and a 1 year high of $83.22. The stock’s 50 day simple moving average is $82.09 and its two-hundred day simple moving average is $81.22. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the transaction, the insider now owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 1,260,413 shares of company stock worth $103,099,492. 1.80% of the stock is currently owned by company 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.