Sigma Planning Corp Lowers Position in Kellanova (NYSE:K)

Sigma Planning Corp trimmed its stake in Kellanova (NYSE:K) by 57.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,367 shares of the company’s stock after selling 19,230 shares during the quarter. Sigma Planning Corp’s holdings in Kellanova were worth $803,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Oakworth Capital Inc. grew its stake in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the period. Baker Avenue Asset Management LP grew its stake in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the period. Blue Trust Inc. grew its stake in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after buying an additional 928 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its stake in Kellanova by 95.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock worth $70,000 after buying an additional 570 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Wells Fargo & Company boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. DA Davidson began coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.27.

Kellanova Stock Up 0.3 %

K stock opened at $58.15 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The firm has a fifty day moving average price of $55.76 and a two-hundred day moving average price of $54.16. The firm has a market cap of $19.87 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.22 and a beta of 0.40.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.85%. Kellanova’s payout ratio is 81.45%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the completion of the transaction, the insider now owns 51,920,038 shares in the company, valued at $2,998,901,394.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 933,600 shares of company stock worth $51,632,748 over the last 90 days. Insiders own 1.80% of the company’s stock.

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.