Kennon Green & Company LLC Sells 1,040 Shares of Kellanova (NYSE:K)

Kennon Green & Company LLC reduced its stake in shares of Kellanova (NYSE:K) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,380 shares of the company’s stock after selling 1,040 shares during the quarter. Kennon Green & Company LLC’s holdings in Kellanova were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in K. Oakworth Capital Inc. increased 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 period. Baker Avenue Asset Management LP lifted its stake in shares of Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the period. Blue Trust Inc. boosted 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 purchasing an additional 206 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Kellanova by 339.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after purchasing an additional 928 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd grew its position in shares of Kellanova by 1,450.0% in the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock worth $92,000 after buying an additional 1,450 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the transaction, the insider now directly owns 52,620,238 shares in the company, valued at approximately $2,824,128,173.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 855,800 shares of company stock worth $47,378,644 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on K. JPMorgan Chase & Co. upped their price objective on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Wells Fargo & Company raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. DA Davidson began coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective on the stock. Piper Sandler increased their price target on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.27.

Kellanova Stock Performance

Shares of NYSE K traded up $0.33 during trading on Monday, hitting $58.06. The company had a trading volume of 1,386,221 shares, compared to its average volume of 3,078,010. The stock has a 50 day simple moving average of $55.96 and a 200 day simple moving average of $54.33. The firm has a market capitalization of $19.84 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.21 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, analysts anticipate that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

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

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.