Kellanova (NYSE:K) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. trimmed its holdings in Kellanova (NYSE:K) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,280 shares of the company’s stock after selling 1,705 shares during the period. Atria Wealth Solutions Inc.’s holdings in Kellanova were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Costello Asset Management INC acquired a new stake in Kellanova in the 1st quarter valued at about $99,000. ING Groep NV lifted its holdings in Kellanova by 172.2% in the 1st quarter. ING Groep NV now owns 291,311 shares of the company’s stock valued at $24,030,000 after purchasing an additional 184,291 shares in the last quarter. Raiffeisen Bank International AG lifted its holdings in Kellanova by 14.5% in the 1st quarter. Raiffeisen Bank International AG now owns 158,050 shares of the company’s stock valued at $13,034,000 after purchasing an additional 19,990 shares in the last quarter. Avalon Trust Co purchased a new position in Kellanova in the 1st quarter valued at about $62,000. Finally, R Squared Ltd purchased a new position in Kellanova in the 1st quarter valued at about $552,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $79.79, for a total transaction of $9,142,577.57. Following the completion of the transaction, the insider owned 45,555,786 shares of the company’s stock, valued at approximately $3,634,896,164.94. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,145,830 shares of company stock worth $92,059,420 over the last three months. Insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.0%

K stock opened at $80.18 on Thursday. Kellanova has a twelve month low of $77.70 and a twelve month high of $83.22. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $27.88 billion, a P/E ratio of 21.04, a PEG ratio of 4.97 and a beta of 0.27. The firm has a 50 day simple moving average of $79.88 and a 200-day simple moving average of $81.48.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a dividend yield of 2.9%. Kellanova’s payout ratio is 59.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on K shares. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a research 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 research report on Thursday, May 29th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.38.

Kellanova Company 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.