Simplicity Solutions LLC Lowers Stock Holdings in Kellanova (NYSE:K)

Simplicity Solutions LLC lessened its holdings in Kellanova (NYSE:K) by 51.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,865 shares of the company’s stock after selling 10,617 shares during the quarter. Simplicity Solutions LLC’s holdings in Kellanova were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in Kellanova by 0.3% in the 1st quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock worth $170,000 after acquiring an additional 159 shares during the period. Castleview Partners LLC grew its stake in shares of Kellanova by 5.4% during the 1st quarter. Castleview Partners LLC now owns 3,218 shares of the company’s stock valued at $215,000 after buying an additional 164 shares during the period. Moors & Cabot Inc. grew its stake in shares of Kellanova by 1.7% during the 1st quarter. Moors & Cabot Inc. now owns 10,272 shares of the company’s stock valued at $662,000 after buying an additional 169 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Kellanova by 2.7% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 6,744 shares of the company’s stock valued at $470,000 after buying an additional 178 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Kellanova by 0.5% during the 3rd quarter. M&T Bank Corp now owns 38,834 shares of the company’s stock valued at $2,707,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the completion of the transaction, the insider now owns 52,775,838 shares in the company, valued at approximately $2,885,782,821.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 933,600 shares of company stock worth $51,308,322 over the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

K opened at $56.54 on Friday. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The company’s 50-day moving average price is $55.54 and its 200 day moving average price is $54.00. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. As a group, sell-side analysts expect that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.96%. Kellanova’s dividend payout ratio (DPR) is 81.45%.

Analyst Upgrades and Downgrades

K has been the subject of several research reports. Piper Sandler boosted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Citigroup began coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Twelve 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, the company has an average rating of “Hold” and a consensus target price of $62.27.

Kellanova 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.