Xponance Inc. Sells 888 Shares of Kellanova (NYSE:K)

Xponance Inc. lessened its holdings in Kellanova (NYSE:K) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,760 shares of the company’s stock after selling 888 shares during the quarter. Xponance Inc.’s holdings in Kellanova were worth $1,888,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. boosted its position in shares of Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after acquiring an additional 393 shares during the period. Baker Avenue Asset Management LP lifted its position in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares during the period. Blue Trust Inc. lifted its position in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Kellanova by 95.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock worth $70,000 after purchasing an additional 570 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after purchasing an additional 928 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $58.15 on Wednesday. The business has a 50 day moving average of $55.76 and a 200-day moving average of $54.16. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The company has a market capitalization of $19.87 billion, a P/E ratio of 21.15, a P/E/G ratio of 2.14 and a beta of 0.40.

Kellanova (NYSE:K) last released its 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. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, equities research analysts predict that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the transaction, the insider now directly owns 51,920,038 shares in the company, valued at approximately $2,998,901,394.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 933,600 shares of company stock worth $51,632,748. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on K shares. 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 price objective for the company. Barclays upped their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Wells Fargo & Company increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Finally, Citigroup assumed coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.27.

Kellanova 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.