Simplicity Solutions LLC Has $552,000 Stake in Kellanova (NYSE:K)

Simplicity Solutions LLC trimmed its stake in Kellanova (NYSE:K) by 51.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,865 shares of the company’s stock after selling 10,617 shares during the period. Simplicity Solutions LLC’s holdings in Kellanova were worth $552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Graypoint LLC bought a new position in shares of Kellanova during the 4th quarter worth about $388,000. ORG Partners LLC lifted its holdings in shares of Kellanova by 680.2% during the 4th quarter. ORG Partners LLC now owns 1,732 shares of the company’s stock worth $97,000 after acquiring an additional 1,510 shares during the period. Kennedy Investment Group lifted its holdings in shares of Kellanova by 1.2% during the 4th quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock worth $1,035,000 after acquiring an additional 218 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Kellanova by 13.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 23,325 shares of the company’s stock worth $1,304,000 after acquiring an additional 2,684 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Kellanova by 23.2% during the 4th quarter. Cerity Partners LLC now owns 49,157 shares of the company’s stock worth $2,749,000 after acquiring an additional 9,258 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on K. Barclays raised their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Piper Sandler lifted their price target 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 price target 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. Finally, StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average target price of $62.27.

Kellanova Trading Up 0.8 %

K opened at $56.54 on Friday. The firm has a 50 day simple moving average of $55.54 and a 200 day simple moving average of $54.00. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The company has a market cap of $19.32 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

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

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.96%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the sale, the insider now directly owns 52,775,838 shares in the company, valued at approximately $2,885,782,821.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,308,322 in the last ninety days. 1.80% of the stock is owned by insiders.

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.