Victory Capital Management Inc. Sells 7,249 Shares of Kellanova (NYSE:K)

Victory Capital Management Inc. reduced its holdings in shares of Kellanova (NYSE:K) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,009 shares of the company’s stock after selling 7,249 shares during the period. Victory Capital Management Inc. owned 0.15% of Kellanova worth $28,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. raised its position in shares of Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares in the last quarter. Blue Trust Inc. raised its holdings in Kellanova by 55.1% in 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 last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Kellanova by 339.9% in 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 in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd grew its holdings in shares of Kellanova by 1,450.0% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after buying an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 2.7 %

Shares of Kellanova stock opened at $61.64 on Wednesday. Kellanova has a 1-year low of $47.63 and a 1-year high of $71.53. The company’s fifty day simple moving average is $56.42 and its 200-day simple moving average is $54.80. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The stock has a market capitalization of $21.07 billion, a PE ratio of 23.09, a P/E/G ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. Kellanova’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the completion of the sale, the insider now directly owns 52,309,038 shares of the company’s stock, valued at approximately $2,767,148,110.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the completion of the sale, the insider now owns 52,309,038 shares in the company, valued at $2,767,148,110.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,021,200 shares of company stock valued at $57,219,110. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their price objective on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Citigroup assumed coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective on the stock. TD Cowen lifted their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.46.

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.