Greatmark Investment Partners Inc. Sells 585 Shares of Kellanova (NYSE:K)

Greatmark Investment Partners Inc. cut its holdings in Kellanova (NYSE:K) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,115 shares of the company’s stock after selling 585 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Kellanova were worth $1,069,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Oakworth Capital Inc. lifted its position in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after buying an additional 393 shares during the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after buying an additional 341 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after buying an additional 928 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd lifted its position in shares of Kellanova by 1,450.0% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after buying an additional 1,450 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

NYSE K traded up $0.35 on Monday, hitting $58.08. The company had a trading volume of 1,287,202 shares, compared to its average volume of 3,075,381. The company has a market capitalization of $19.85 billion, a PE ratio of 21.09, a PEG ratio of 2.21 and a beta of 0.40. The company’s fifty day moving average price is $55.96 and its 200-day moving average price is $54.33. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30.

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

Kellanova Dividend Announcement

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

Analyst Ratings Changes

K has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Barclays increased their price target on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. DA Davidson assumed coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.27.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the transaction, the insider now owns 51,920,038 shares of the company’s stock, valued at approximately $2,998,901,394.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 855,800 shares of company stock valued at $47,378,644 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.