Crossmark Global Holdings Inc. Sells 575 Shares of Kellanova (NYSE:K)

Crossmark Global Holdings Inc. reduced its stake in Kellanova (NYSE:KFree Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,901 shares of the company’s stock after selling 575 shares during the period. Crossmark Global Holdings Inc.’s holdings in Kellanova were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Naples Global Advisors LLC grew its stake in shares of Kellanova by 1.7% in the 4th quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after purchasing an additional 200 shares during the period. Huntington National Bank grew its stake in shares of Kellanova by 1.6% in the 3rd quarter. Huntington National Bank now owns 12,808 shares of the company’s stock valued at $762,000 after purchasing an additional 204 shares during the period. Financial Advisors Network Inc. grew its stake in shares of Kellanova by 4.2% in the 4th quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after purchasing an additional 204 shares during the period. Blue Trust Inc. boosted its holdings 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 acquiring an additional 206 shares in the last quarter. Finally, Kennedy Investment Group boosted its holdings in shares of Kellanova by 1.2% in 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 in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on K. Piper Sandler boosted their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. TD Cowen boosted their target price on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. DA Davidson boosted their target price on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Barclays upped their price objective on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.85.

Get Our Latest Analysis on K

Kellanova Stock Performance

K stock opened at $59.63 on Friday. The business’s fifty day moving average is $59.25 and its 200-day moving average is $56.32. 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 has a market cap of $20.39 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.12 and a beta of 0.35. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.69.

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

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $55.61, for a total value of $4,326,458.00. Following the completion of the sale, the insider now owns 52,231,238 shares in the company, valued at approximately $2,904,579,145.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the completion of the transaction, the insider now owns 52,231,238 shares in the company, valued at approximately $2,904,579,145.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction dated Monday, May 6th. The stock was 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 approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock worth $50,366,486 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

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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