IMPACTfolio LLC Sells 127 Shares of Kellanova (NYSE:K)

IMPACTfolio LLC trimmed its position in Kellanova (NYSE:K) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,787 shares of the company’s stock after selling 127 shares during the period. IMPACTfolio LLC’s holdings in Kellanova were worth $226,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC grew its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. MCF Advisors LLC increased its holdings in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on K. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, StockNews.com initiated coverage on Kellanova in a research note on Monday. They issued a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.35.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the transaction, the insider now owns 49,909,940 shares of the company’s stock, valued at approximately $4,024,238,462.20. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,031,247 shares of company stock valued at $83,337,362 over the last 90 days. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Kellanova stock traded up $0.13 during midday trading on Thursday, reaching $81.10. 956,196 shares of the stock were exchanged, compared to its average volume of 2,899,227. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm has a market cap of $27.96 billion, a PE ratio of 27.87, a PEG ratio of 2.59 and a beta of 0.38. The company’s fifty day moving average is $80.80 and its 200-day moving average is $74.69.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. On average, sell-side analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s payout ratio is 78.35%.

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.