Kestra Private Wealth Services LLC Has $340,000 Stake in Kellanova (NYSE:K)

Kestra Private Wealth Services LLC reduced its holdings in Kellanova (NYSE:K) by 45.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,090 shares of the company’s stock after selling 5,006 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Kellanova were worth $340,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Anchor Capital Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth about $38,939,000. PGGM Investments lifted its holdings in Kellanova by 3.4% during the 4th quarter. PGGM Investments now owns 30,132 shares of the company’s stock worth $1,685,000 after buying an additional 990 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Kellanova by 3.2% in the 4th quarter. Russell Investments Group Ltd. now owns 535,491 shares of the company’s stock valued at $29,937,000 after buying an additional 16,516 shares during the period. Truist Financial Corp raised its position in shares of Kellanova by 14.5% during the fourth quarter. Truist Financial Corp now owns 92,897 shares of the company’s stock worth $5,194,000 after acquiring an additional 11,796 shares during the last quarter. Finally, Syon Capital LLC acquired a new position in shares of Kellanova during the fourth quarter valued at $327,000. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler lifted their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Citigroup assumed coverage on Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. DA Davidson started coverage on shares of Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $61.46.

Kellanova Trading Up 2.7 %

Kellanova stock opened at $61.64 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a 50-day moving average of $56.42 and a 200-day moving average of $54.80. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 2.32 and a beta of 0.39. Kellanova has a one year low of $47.63 and a one year high of $71.53.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. On average, equities analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is currently 83.90%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the completion of the transaction, the insider now owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the completion of the sale, the insider now owns 52,620,238 shares of the company’s stock, valued at approximately $2,824,128,173.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. Insiders sold a total of 1,021,200 shares of company stock worth $57,219,110 over the last quarter. 1.80% of the stock is currently owned by insiders.

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.