Kellanova (NYSE:K) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in Kellanova (NYSE:K) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,574 shares of the company’s stock after selling 4,988 shares during the quarter. Amalgamated Bank’s holdings in Kellanova were worth $3,554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of K. Stratos Wealth Partners LTD. grew its stake in shares of Kellanova by 9.1% in the third quarter. Stratos Wealth Partners LTD. now owns 5,444 shares of the company’s stock worth $324,000 after acquiring an additional 452 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Kellanova by 25.6% during the 3rd quarter. Mackenzie Financial Corp now owns 186,750 shares of the company’s stock worth $11,113,000 after purchasing an additional 38,037 shares during the period. IFM Investors Pty Ltd boosted its stake in shares of Kellanova by 3.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 55,757 shares of the company’s stock valued at $3,318,000 after buying an additional 2,116 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kellanova by 5.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,079 shares of the company’s stock worth $7,877,000 after buying an additional 7,551 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of Kellanova during the third quarter worth approximately $309,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Down 1.2 %

K stock opened at $61.60 on Friday. Kellanova has a 12 month low of $47.63 and a 12 month high of $71.19. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The company has a market cap of $21.06 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The company has a fifty day moving average price of $56.54 and a 200 day moving average price of $54.85.

Kellanova (NYSE:K) last announced its earnings results 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 business had revenue of $3.20 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Sell-side analysts expect that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, June 3rd. Kellanova’s payout ratio is currently 83.90%.

Insider Transactions at Kellanova

In other news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction dated 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 $1,572,769.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the transaction, the insider now owns 52,620,238 shares of the company’s stock, valued at approximately $2,824,128,173.46. The disclosure for this sale can be found here. Insiders sold 943,400 shares of company stock worth $53,047,474 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

K has been the subject of several analyst reports. Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. DA Davidson increased their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, TD Cowen boosted 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. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.85.

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.