Goldman Sachs Group Inc. Has $87.72 Million Stock Holdings in Kellanova (NYSE:K)

Goldman Sachs Group Inc. cut its holdings in Kellanova (NYSE:KFree Report) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,568,923 shares of the company’s stock after selling 351,885 shares during the quarter. Goldman Sachs Group Inc. owned about 0.46% of Kellanova worth $87,718,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in K. Naples Global Advisors LLC raised its position in shares of Kellanova by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after purchasing an additional 200 shares during the period. Financial Advisors Network Inc. raised its position in shares of Kellanova by 4.2% in the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after purchasing an additional 204 shares during the period. Blue Trust Inc. raised its position in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the period. Kennedy Investment Group increased its position in Kellanova by 1.2% during the fourth quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock worth $1,035,000 after acquiring an additional 218 shares during the period. Finally, Jeppson Wealth Management LLC increased its position in Kellanova by 3.1% during the fourth quarter. Jeppson Wealth Management LLC now owns 7,256 shares of the company’s stock worth $406,000 after acquiring an additional 220 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

K has been the topic of a number of research reports. 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. DA Davidson boosted their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. TD Cowen boosted their target price on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Barclays boosted their target price on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.85.

View Our Latest Report on K

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 52,309,038 shares in the company, valued at approximately $2,767,148,110.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction dated 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 directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $4,115,620.00. Following the sale, the insider now directly owns 52,309,038 shares of the company’s stock, valued at $2,767,148,110.20. The disclosure for this sale can be found here. Insiders have sold a total of 865,600 shares of company stock worth $50,366,486 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.9 %

Shares of NYSE:K opened at $59.09 on Tuesday. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The company’s fifty day moving average is $59.29 and its 200-day moving average is $56.38. The company has a market capitalization of $20.20 billion, a PE ratio of 22.13, a P/E/G ratio of 2.12 and a beta of 0.35.

Kellanova (NYSE:KGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company 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 earned $1.10 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.79%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

About Kellanova

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Kellanova (NYSE:K)

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