Farther Finance Advisors LLC Sells 415 Shares of Kellanova (NYSE:K)

Farther Finance Advisors LLC cut its holdings in Kellanova (NYSE:K) by 15.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,279 shares of the company’s stock after selling 415 shares during the quarter. Farther Finance Advisors LLC’s holdings in Kellanova were worth $188,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in Kellanova by 3.8% during the first quarter. UMB Bank n.a. now owns 5,284 shares of the company’s stock worth $436,000 after acquiring an additional 192 shares during the last quarter. Curat Global LLC bought a new position in shares of Kellanova during the 1st quarter valued at approximately $1,085,000. Merit Financial Group LLC increased its position in shares of Kellanova by 26.6% during the 1st quarter. Merit Financial Group LLC now owns 6,268 shares of the company’s stock valued at $517,000 after purchasing an additional 1,316 shares during the last quarter. NBC Securities Inc. raised its holdings in Kellanova by 109,600.0% during the 1st quarter. NBC Securities Inc. now owns 4,388 shares of the company’s stock valued at $361,000 after buying an additional 4,384 shares during the period. Finally, Czech National Bank lifted its position in Kellanova by 5.9% in the first quarter. Czech National Bank now owns 61,754 shares of the company’s stock worth $5,094,000 after buying an additional 3,458 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 1.6%

NYSE:K opened at $78.91 on Friday. The company’s 50-day simple moving average is $82.02 and its 200-day simple moving average is $81.86. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The stock has a market capitalization of $27.38 billion, a P/E ratio of 19.93, a P/E/G ratio of 4.13 and a beta of 0.30.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.89%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Wall Street Analyst Weigh In

Several analysts have issued reports on K shares. Wall Street Zen downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a report on Thursday, May 29th. Finally, Royal Bank Of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.75.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $82.56, for a total value of $9,459,972.48. Following the transaction, the insider now owns 46,816,199 shares in the company, valued at approximately $3,865,145,389.44. This represents a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,430,637 in the last ninety days. Company insiders own 1.80% of the company’s stock.

About Kellanova

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.