Kellanova (NYSE:K) Position Decreased by Brown Advisory Inc.

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in Kellanova by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after buying an additional 132 shares during the period. OneAscent Financial Services LLC lifted its position in Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock worth $268,000 after buying an additional 149 shares in the last quarter. Legacy Advisors LLC lifted its position in Kellanova by 7.1% during the 1st quarter. Legacy Advisors LLC now owns 2,687 shares of the company’s stock valued at $222,000 after purchasing an additional 179 shares during the period. GAMMA Investing LLC lifted its position in Kellanova by 2.8% during the 1st quarter. GAMMA Investing LLC now owns 6,889 shares of the company’s stock valued at $568,000 after purchasing an additional 186 shares during the period. Finally, Humankind Investments LLC lifted its position in Kellanova by 3.9% during the 4th quarter. Humankind Investments LLC now owns 5,117 shares of the company’s stock valued at $414,000 after purchasing an additional 191 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on K shares. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price objective for the company in a report on Thursday, May 29th. Wall Street Zen cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.75.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $79.68, for a total value of $9,129,973.44. Following the sale, the insider directly owned 45,899,535 shares in the company, valued at approximately $3,657,274,948.80. 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 accessible through the SEC website. Insiders sold 1,374,996 shares of company stock valued at $111,466,342 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.2%

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

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

Kellanova Dividend Announcement

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

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.