Kellanova (NYSE:K) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of Kellanova (NYSE:K) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,284 shares of the company’s stock after selling 941 shares during the period. Mutual of America Capital Management LLC’s holdings in Kellanova were worth $2,581,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Grove Bank & Trust bought a new position in shares of Kellanova during the first quarter worth about $25,000. MorganRosel Wealth Management LLC bought a new position in shares of Kellanova during the first quarter worth about $27,000. Accredited Wealth Management LLC bought a new position in shares of Kellanova during the fourth quarter worth about $36,000. Minot DeBlois Advisors LLC bought a new position in shares of Kellanova during the fourth quarter worth about $42,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Kellanova during the first quarter worth about $49,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on K. Citigroup upgraded shares of Kellanova to a “neutral” rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.75.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, July 7th. The shares were sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the completion of the sale, the insider owned 45,899,535 shares of the company’s stock, valued at $3,657,274,948.80. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 1,374,996 shares of company stock worth $111,466,342. Insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.1%

Kellanova stock opened at $79.91 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The firm has a market cap of $27.72 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 4.25 and a beta of 0.28. Kellanova has a 1 year low of $56.37 and a 1 year high of $83.22. The firm’s 50 day moving average price is $80.70 and its two-hundred day moving average price is $81.67.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova’s payout ratio is 57.58%.

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.