Kellanova (NYSE:K) Position Trimmed by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of Kellanova (NYSE:K) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,471 shares of the company’s stock after selling 2,015 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Kellanova were worth $2,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Kellanova during the 4th quarter valued at about $285,126,000. Franklin Resources Inc. lifted its holdings in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after buying an additional 2,313,047 shares during the last quarter. FIL Ltd lifted its holdings in shares of Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Kellanova by 136.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock valued at $141,356,000 after buying an additional 1,006,100 shares during the last quarter. Finally, TIG Advisors LLC lifted its holdings in shares of Kellanova by 76.5% during the 4th quarter. TIG Advisors LLC now owns 1,878,275 shares of the company’s stock valued at $152,084,000 after buying an additional 813,901 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 1.7%

K opened at $80.25 on Friday. The business has a 50 day moving average price of $82.26 and a 200 day moving average price of $81.91. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm has a market cap of $27.84 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

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

Kellanova Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.84%. Kellanova’s payout ratio is 57.58%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $81.89, for a total value of $9,383,201.87. Following the sale, the insider now owns 46,357,867 shares of the company’s stock, valued at approximately $3,796,245,728.63. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,673,553. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

K has been the subject of several research reports. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Finally, Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.75.

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.