Moors & Cabot Inc. Sells 4,894 Shares of Kellanova (NYSE:K)

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

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its position in shares of Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after purchasing an additional 196,564 shares in the last quarter. Barclays PLC boosted its position in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Kellanova by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after purchasing an additional 50,303 shares in the last quarter. Finally, Ilex Capital Partners UK LLP boosted its position in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock worth $103,099,492 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

NYSE K opened at $82.22 on Monday. The stock has a 50-day simple moving average of $82.05 and a two-hundred day simple moving average of $81.19. The firm has a market capitalization of $28.38 billion, a P/E ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a fifty-two week low of $52.53 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Analysts Set New Price Targets

A number of brokerages have commented on K. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research report on Wednesday, March 12th. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.96.

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.