Farther Finance Advisors LLC Trims Stake in Kellanova (NYSE:K)

Farther Finance Advisors LLC lowered its stake in Kellanova (NYSE:K) by 71.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,694 shares of the company’s stock after selling 6,613 shares during the quarter. Farther Finance Advisors LLC’s holdings in Kellanova were worth $218,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Independent Advisor Alliance raised its holdings in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after acquiring an additional 1,019 shares during the last quarter. Toronto Dominion Bank raised its holdings in Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after acquiring an additional 8,686 shares during the last quarter. Wedmont Private Capital acquired a new position in Kellanova in the 4th quarter valued at $384,000. Barclays PLC raised its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kellanova during the 3rd quarter worth $4,211,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.0 %

Shares of Kellanova stock opened at $82.36 on Thursday. The company has a fifty day moving average price of $82.11 and a 200 day moving average price of $81.23. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a twelve month low of $54.70 and a twelve month high of $83.22. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s payout ratio is currently 58.91%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,099,492 in the last ninety days. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on K. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a report on Thursday. They set a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average price target of $77.96.

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.