Kellanova (NYSE:K) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. reduced its stake in shares of Kellanova (NYSE:K) by 60.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,220 shares of the company’s stock after selling 4,894 shares during the period. Moors & Cabot Inc.’s holdings in Kellanova were worth $261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova during the 4th quarter worth approximately $27,000. BankPlus Trust Department acquired a new position in Kellanova in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the fourth quarter valued at approximately $32,000. First Horizon Advisors Inc. lifted its holdings in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the last quarter. Finally, Sherman Asset Management Inc. acquired a new position in Kellanova in the fourth quarter valued at approximately $43,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on K shares. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a report on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a report on Wednesday, March 12th. They issued a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Down 0.1 %

Shares of NYSE K opened at $82.22 on Monday. The firm has a market cap of $28.38 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 52-week low of $52.53 and a 52-week high of $83.22. The business’s 50 day moving average is $82.05 and its two-hundred day moving average is $81.19.

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

Kellanova Dividend Announcement

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

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is currently owned by company insiders.

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.