Moody National Bank Trust Division Sells 8,382 Shares of Kellanova (NYSE:K)

Moody National Bank Trust Division decreased its holdings in Kellanova (NYSE:KFree Report) by 63.4% in the fourth quarter, Holdings reports. The firm owned 4,841 shares of the company’s stock after selling 8,382 shares during the period. Moody National Bank Trust Division’s holdings in Kellanova were worth $271,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Comerica Bank bought a new stake in shares of Kellanova in the 3rd quarter worth approximately $4,974,000. Soltis Investment Advisors LLC grew its stake in shares of Kellanova by 25.7% in the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock worth $2,745,000 after acquiring an additional 9,434 shares during the period. Savoir Faire Capital Management L.P. bought a new position in Kellanova during the third quarter valued at approximately $3,248,000. Bleakley Financial Group LLC boosted its holdings in Kellanova by 3.6% in the second quarter. Bleakley Financial Group LLC now owns 13,795 shares of the company’s stock worth $930,000 after purchasing an additional 474 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Kellanova during the 3rd quarter valued at $5,896,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $56.49, for a total transaction of $4,394,922.00. Following the sale, the insider now directly owns 53,009,238 shares of the company’s stock, valued at approximately $2,994,491,854.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 933,600 shares of company stock worth $51,021,240 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Down 1.0 %

Shares of K opened at $55.55 on Friday. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $18.98 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.10 and a beta of 0.40. The business’s 50 day moving average is $54.74 and its 200 day moving average is $54.37.

Kellanova (NYSE:KGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts expect that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price target on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 target price for the company. Wells Fargo & Company increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, cut Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus target price of $62.27.

Read Our Latest Report on Kellanova

Kellanova Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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