Godsey & Gibb Inc. Sells 1,400 Shares of Kellanova (NYSE:K)

Godsey & Gibb Inc. trimmed its position in shares of Kellanova (NYSE:K) by 11.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,300 shares of the company’s stock after selling 1,400 shares during the period. Godsey & Gibb Inc.’s holdings in Kellanova were worth $912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Kellanova by 1.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock worth $566,000 after acquiring an additional 180 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Kellanova by 2.6% during the third quarter. Aaron Wealth Advisors LLC now owns 7,219 shares of the company’s stock worth $583,000 after acquiring an additional 181 shares in the last quarter. IFG Advisory LLC lifted its position in shares of Kellanova by 1.4% during the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after acquiring an additional 189 shares in the last quarter. Finally, Eukles Asset Management lifted its position in shares of Kellanova by 0.7% during the second quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock worth $1,521,000 after acquiring an additional 193 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the completion of the transaction, the insider now directly owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the completion of the transaction, the insider now directly owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the transaction, the insider now owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,076,498 shares of company stock worth $84,360,375. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on K. Evercore ISI upgraded Kellanova to a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Barclays raised 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. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on Kellanova in a research report on Saturday. They set a “hold” rating on the stock. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Stock Performance

Kellanova stock opened at $81.05 on Monday. The stock’s 50 day simple moving average is $80.19 and its two-hundred day simple moving average is $66.65. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The stock has a market cap of $27.71 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a fifty-two week low of $49.28 and a fifty-two week high of $81.21.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. As a group, analysts expect that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

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

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.