Kellanova (NYSE:K) Shares Sold by Cwm LLC

Cwm LLC cut its stake in Kellanova (NYSE:K) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,276 shares of the company’s stock after selling 191 shares during the period. Cwm LLC’s holdings in Kellanova were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of K. Norges Bank acquired a new stake in Kellanova during the 4th quarter valued at approximately $150,184,000. Vanguard Group Inc. lifted its stake in Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after acquiring an additional 1,130,582 shares during the period. Anchor Capital Advisors LLC acquired a new stake in Kellanova during the 4th quarter valued at approximately $38,939,000. Beutel Goodman & Co Ltd. lifted its stake in Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after acquiring an additional 655,686 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in Kellanova during the 4th quarter valued at approximately $35,372,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $57.89, for a total value of $4,503,842.00. Following the completion of the sale, the insider now owns 51,375,438 shares of the company’s stock, valued at $2,974,124,105.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $57.89, for a total transaction of $4,503,842.00. Following the completion of the sale, the insider now directly owns 51,375,438 shares of the company’s stock, valued at approximately $2,974,124,105.82. The disclosure for this sale can be found here. Insiders sold 787,800 shares of company stock valued at $46,428,250 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Price Performance

Shares of NYSE K opened at $57.48 on Friday. Kellanova has a one year low of $47.63 and a one year high of $68.69. The firm has a market cap of $19.65 billion, a PE ratio of 21.53, a PEG ratio of 2.09 and a beta of 0.35. The firm has a fifty day moving average of $59.55 and a 200 day moving average of $56.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts predict that Kellanova will post 3.61 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Monday, June 3rd. Kellanova’s payout ratio is 83.90%.

Analysts Set New Price Targets

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

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.