Kestra Private Wealth Services LLC Sells 5,006 Shares of Kellanova (NYSE:K)

Kestra Private Wealth Services LLC decreased its position in shares of Kellanova (NYSE:K) by 45.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,090 shares of the company’s stock after selling 5,006 shares during the period. Kestra Private Wealth Services LLC’s holdings in Kellanova were worth $340,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in K. Oakworth Capital Inc. boosted its stake in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares in the last quarter. Baker Avenue Asset Management LP boosted its position in shares of Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after buying an additional 928 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd raised its stake in Kellanova by 1,450.0% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after buying an additional 1,450 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the transaction, the insider now directly owns 52,309,038 shares of the company’s stock, valued at approximately $2,767,148,110.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $52.90, for a total value of $4,115,620.00. Following the completion of the sale, the insider now directly owns 52,309,038 shares of the company’s stock, valued at approximately $2,767,148,110.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,021,200 shares of company stock valued at $57,219,110. 1.80% of the stock is owned by company insiders.

Kellanova Stock Up 2.7 %

K stock opened at $61.64 on Wednesday. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 2.32 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The business’s 50-day moving average is $56.42 and its two-hundred day moving average is $54.80. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. As a group, analysts forecast that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on K shares. TD Cowen increased their target price on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Barclays increased their price objective on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday. DA Davidson assumed coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. Piper Sandler increased 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Kellanova presently has an average rating of “Hold” and an average target price of $61.46.

Kellanova Company 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.