AlphaMark Advisors LLC Sells 4,855 Shares of Kellanova (NYSE:K)

AlphaMark Advisors LLC decreased its stake in shares of Kellanova (NYSE:K) by 71.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,935 shares of the company’s stock after selling 4,855 shares during the quarter. AlphaMark Advisors LLC’s holdings in Kellanova were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after buying an additional 277,171 shares during the period. Yacktman Asset Management LP lifted its holdings in shares of Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after purchasing an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new stake in Kellanova during the 2nd quarter valued at $88,065,000. Finally, TD Asset Management Inc raised its holdings in Kellanova by 3.0% during the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after buying an additional 40,406 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the sale, the insider now directly owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 Monday, July 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the transaction, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,154,298 shares of company stock worth $88,847,101. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $81.05 on Friday. The company has a market capitalization of $27.71 billion, a P/E ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 0.39. The business has a fifty day simple moving average of $80.19 and a two-hundred day simple moving average of $66.52. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a 1 year low of $49.28 and a 1 year high of $81.21.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. On average, analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Wall Street Analysts Forecast Growth

K has been the subject of several recent research reports. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $70.00 in a report on Friday, August 2nd. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target for the company in a report on Monday, August 5th. Barclays increased their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Evercore ISI raised shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.32.

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.