Kellanova (NYSE:K) Shares Sold by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC decreased its holdings in shares of Kellanova (NYSE:K) by 51.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,425 shares of the company’s stock after selling 11,201 shares during the period. Avidian Wealth Solutions LLC’s holdings in Kellanova were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oakworth Capital Inc. grew its stake in shares of Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Kellanova by 205.4% in 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 in the last quarter. Blue Trust Inc. raised its holdings in shares of Kellanova by 55.1% in 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 grew its holdings in Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after acquiring an additional 928 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd raised 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 worth $92,000 after acquiring an additional 1,450 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on K shares. Barclays upped their price target on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday. Piper Sandler increased their target price on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Citigroup started coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. Finally, Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average target price of $61.46.

Kellanova Stock Performance

Shares of NYSE K traded down $0.52 during midday trading on Monday, reaching $59.99. 1,175,818 shares of the stock were exchanged, compared to its average volume of 3,232,400. Kellanova has a twelve month low of $47.63 and a twelve month high of $71.53. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The firm has a 50-day simple moving average of $56.23 and a two-hundred day simple moving average of $54.65. The firm has a market cap of $20.51 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.32 and a beta of 0.39.

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

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.73%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the sale, the insider now owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 933,600 shares of company stock worth $51,891,044 in the last ninety days. 1.80% of the stock is 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.