Kellanova (NYSE:K) Position Lessened by Captrust Financial Advisors

Captrust Financial Advisors lowered its position in Kellanova (NYSE:K) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,641 shares of the company’s stock after selling 526 shares during the quarter. Captrust Financial Advisors’ holdings in Kellanova were worth $2,805,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Independent Advisor Alliance increased its position in Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after buying an additional 1,019 shares during the last quarter. Aviva PLC raised its position in shares of Kellanova by 2.6% in the fourth quarter. Aviva PLC now owns 542,709 shares of the company’s stock valued at $43,943,000 after purchasing an additional 13,531 shares during the period. Wedmont Private Capital acquired a new stake in shares of Kellanova in the fourth quarter worth $384,000. FNY Investment Advisers LLC bought a new stake in shares of Kellanova during the 4th quarter worth $2,490,000. Finally, Barclays PLC grew its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the transaction, the insider now directly owns 47,847,446 shares of the company’s stock, valued at $3,956,983,784.20. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,839,698 in the last 90 days. 1.80% of the stock is owned by company insiders.

Kellanova Trading Down 0.0%

Shares of Kellanova stock opened at $82.50 on Monday. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The firm has a market capitalization of $28.62 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company’s fifty day moving average price is $82.39 and its two-hundred day moving average price is $81.71.

Kellanova (NYSE:K) last posted its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. On average, analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s payout ratio is presently 57.58%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus price target of $79.41.

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.