Parallel Advisors LLC Lowers Stock Holdings in Kellanova (NYSE:K)

Parallel Advisors LLC trimmed its stake in shares of Kellanova (NYSE:KFree Report) by 49.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,832 shares of the company’s stock after selling 3,761 shares during the quarter. Parallel Advisors LLC’s holdings in Kellanova were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of K. Oppenheimer Asset Management Inc. purchased a new stake in Kellanova in the 3rd quarter valued at approximately $203,000. Oppenheimer & Co. Inc. grew its holdings in Kellanova by 4.6% during the third quarter. Oppenheimer & Co. Inc. now owns 6,114 shares of the company’s stock worth $364,000 after acquiring an additional 267 shares during the period. Moors & Cabot Inc. raised its position in Kellanova by 9.9% in the third quarter. Moors & Cabot Inc. now owns 7,063 shares of the company’s stock worth $420,000 after acquiring an additional 639 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Kellanova by 6.2% in the third quarter. New York Life Investment Management LLC now owns 50,336 shares of the company’s stock valued at $2,995,000 after acquiring an additional 2,926 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Kellanova by 6.0% during the 3rd quarter. Amalgamated Bank now owns 68,562 shares of the company’s stock worth $4,080,000 after purchasing an additional 3,871 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $53.44, for a total value of $4,157,632.00. Following the completion of the sale, the insider now owns 52,386,838 shares of the company’s stock, valued at approximately $2,799,552,622.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $53.44, for a total value of $4,157,632.00. Following the completion of the transaction, the insider now owns 52,386,838 shares of the company’s stock, valued at $2,799,552,622.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 943,400 shares of company stock valued at $54,524,118. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on K. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson lifted their price objective on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Barclays upped their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $61.85.

Check Out Our Latest Stock Analysis on K

Kellanova Stock Up 1.7 %

Shares of K opened at $60.34 on Monday. The firm has a market cap of $20.63 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.14 and a beta of 0.35. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The company’s fifty day moving average is $58.91 and its two-hundred day moving average is $56.08. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $68.69.

Kellanova (NYSE:KGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Analysts forecast that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Kellanova Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Kellanova (NYSE:K)

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