SeaCrest Wealth Management LLC Lowers Position in Kellanova (NYSE:K)

SeaCrest Wealth Management LLC cut its holdings in Kellanova (NYSE:KFree Report) by 61.6% during the 4th quarter, Holdings Channel reports. The firm owned 9,490 shares of the company’s stock after selling 15,200 shares during the period. SeaCrest Wealth Management LLC’s holdings in Kellanova were worth $538,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. CGC Financial Services LLC purchased a new stake in Kellanova in the second quarter worth about $27,000. Oakworth Capital Inc. lifted its holdings in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the period. Norwood Financial Corp lifted its holdings in Kellanova by 81.8% in the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after buying an additional 225 shares during the period. Baker Avenue Asset Management LP lifted its holdings in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the period. Finally, Cowa LLC purchased a new stake in Kellanova in the first quarter worth about $33,000. 83.87% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $54.72, for a total transaction of $4,257,216.00. Following the completion of the sale, the insider now owns 52,931,438 shares of the company’s stock, valued at approximately $2,896,408,287.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,183,842 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Up 1.1 %

NYSE:K opened at $57.29 on Friday. 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 12 month low of $47.63 and a 12 month high of $72.30. The company has a market cap of $19.58 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.12 and a beta of 0.40. The company has a 50 day simple moving average of $54.88 and a two-hundred day simple moving average of $54.32.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Wall Street Analyst Weigh In

Several analysts have commented on K shares. Stifel Nicolaus raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Piper Sandler lifted their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company lifted their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Barclays lifted their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus target price of $62.27.

View Our Latest Analysis on Kellanova

Kellanova 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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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