Brown Advisory Inc. Has $331,000 Holdings in Kellanova (NYSE:K)

Brown Advisory Inc. decreased its position in Kellanova (NYSE:K) by 98.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,012 shares of the company’s stock after selling 353,148 shares during the period. Brown Advisory Inc.’s holdings in Kellanova were worth $331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Counselors Inc. bought a new stake in shares of Kellanova in the 1st quarter worth approximately $522,000. Aviva PLC raised its holdings in shares of Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company’s stock worth $43,943,000 after purchasing an additional 13,531 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock worth $4,620,000 after purchasing an additional 5,957 shares during the period. Retirement Guys Formula LLC bought a new stake in shares of Kellanova in the 1st quarter worth approximately $934,000. Finally, Decagon Asset Management LLP bought a new stake in shares of Kellanova in the 4th quarter worth approximately $10,125,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 target price on the stock in a report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.75.

Kellanova Stock Performance

Shares of NYSE:K opened at $79.50 on Wednesday. The company has a market cap of $27.58 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 4.23 and a beta of 0.28. The company has a 50-day moving average price of $80.86 and a 200-day moving average price of $81.69. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. Kellanova has a 12 month low of $56.10 and a 12 month high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) 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 company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the company earned $1.01 earnings per share. Kellanova’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.87%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $79.54, for a total transaction of $9,113,931.82. Following the completion of the sale, the insider owned 45,784,952 shares of the company’s stock, valued at $3,641,735,082.08. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,374,996 shares of company stock valued at $111,466,342 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.