Kellanova (NYSE:K) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its stake in shares of Kellanova (NYSE:K) by 74.5% in the fourth quarter, HoldingsChannel reports. The firm owned 6,393 shares of the company’s stock after selling 18,636 shares during the quarter. Great Lakes Advisors LLC’s holdings in Kellanova were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in K. Naples Global Advisors LLC raised its holdings in shares of Kellanova by 1.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after buying an additional 200 shares during the last quarter. Huntington National Bank grew its stake in shares of Kellanova by 1.6% in the third quarter. Huntington National Bank now owns 12,808 shares of the company’s stock worth $762,000 after purchasing an additional 204 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. Kennedy Investment Group raised its stake in shares of Kellanova by 1.2% during the fourth quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after purchasing an additional 218 shares in the last quarter. Finally, Jeppson Wealth Management LLC raised its stake in shares of Kellanova by 3.1% during the fourth quarter. Jeppson Wealth Management LLC now owns 7,256 shares of the company’s stock valued at $406,000 after purchasing an additional 220 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on K shares. Barclays raised their target price on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Piper Sandler upped their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. TD Cowen lifted their price target on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company lifted their target price on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.85.

Kellanova Trading Down 1.0 %

Kellanova stock opened at $61.62 on Thursday. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.93. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The stock has a market cap of $21.07 billion, a P/E ratio of 23.08, a P/E/G ratio of 2.21 and a beta of 0.39. The company’s fifty day simple moving average is $58.13 and its 200-day simple moving average is $55.64.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.01, for a total transaction of $4,824,378.00. Following the transaction, the insider now owns 51,608,838 shares in the company, valued at $3,200,264,044.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.01, for a total value of $4,824,378.00. Following the completion of the transaction, the insider now directly owns 51,608,838 shares in the company, valued at $3,200,264,044.38. The disclosure for this sale can be found here. Insiders sold 943,400 shares of company stock valued at $54,183,354 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.