Kellanova (NYSE:K) Shares Sold by Greenleaf Trust

Greenleaf Trust cut its holdings in Kellanova (NYSE:K) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,798 shares of the company’s stock after selling 465 shares during the quarter. Greenleaf Trust’s holdings in Kellanova were worth $548,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank acquired a new position in Kellanova in the third quarter valued at $4,974,000. Raymond James & Associates boosted its holdings in shares of Kellanova by 11.9% in the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock valued at $22,385,000 after acquiring an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC boosted its holdings in shares of Kellanova by 25.7% in the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after acquiring an additional 9,434 shares in the last quarter. CX Institutional boosted its holdings in shares of Kellanova by 52.9% in the fourth quarter. CX Institutional now owns 59,975 shares of the company’s stock valued at $3,353,000 after acquiring an additional 20,752 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. purchased a new stake in shares of Kellanova in the third quarter valued at about $3,248,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $53.62, for a total value of $4,171,636.00. Following the completion of the transaction, the insider now owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 933,600 shares of company stock valued at $51,632,748 over the last 90 days. Insiders own 1.80% of the company’s stock.

Kellanova Stock Up 1.0 %

Shares of NYSE K opened at $57.98 on Tuesday. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The company has a market capitalization of $19.82 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The firm’s 50-day moving average is $55.68 and its two-hundred day moving average is $54.10.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Equities analysts anticipate that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is presently 81.45%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on K shares. Barclays lifted their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Piper Sandler lifted their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report 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 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.27.

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.