Geneos Wealth Management Inc. Sells 1,109 Shares of Kellanova (NYSE:K)

Geneos Wealth Management Inc. cut its position in Kellanova (NYSE:K) by 43.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,418 shares of the company’s stock after selling 1,109 shares during the period. Geneos Wealth Management Inc.’s holdings in Kellanova were worth $79,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its holdings in Kellanova by 14.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,910 shares of the company’s stock worth $442,000 after purchasing an additional 1,027 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Kellanova by 133.4% during the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock worth $3,404,000 after acquiring an additional 34,800 shares during the last quarter. Bristlecone Advisors LLC grew its stake in shares of Kellanova by 89.2% during the fourth quarter. Bristlecone Advisors LLC now owns 37,688 shares of the company’s stock worth $2,107,000 after acquiring an additional 17,767 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Kellanova by 18.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 39,207 shares of the company’s stock worth $2,192,000 after acquiring an additional 6,147 shares during the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $222,000. 83.87% of the stock is currently owned by institutional investors.

Kellanova Trading Down 0.0 %

Kellanova stock opened at $55.40 on Tuesday. 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 stock’s 50 day simple moving average is $55.43 and its two-hundred day simple moving average is $54.00. The firm has a market cap of $18.93 billion, a PE ratio of 20.15, a P/E/G ratio of 2.07 and a beta of 0.40.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 4.04%. Kellanova’s dividend payout ratio is presently 81.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on K. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Wells Fargo & Company boosted their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. DA Davidson began coverage on Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Citigroup started coverage on Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target on the stock. Finally, Barclays upped their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.27.

Insiders Place Their Bets

In other Kellanova 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 29th. The stock was sold at an average price of $54.68, for a total value of $4,254,104.00. Following the sale, the insider now owns 52,775,838 shares in the company, valued at approximately $2,885,782,821.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 933,600 shares of company stock worth $51,308,322. Corporate insiders own 1.80% of the company’s stock.

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.