Greatmark Investment Partners Inc. Sells 875 Shares of Kellanova (NYSE:K)

Greatmark Investment Partners Inc. trimmed its stake in Kellanova (NYSE:K) by 5.9% during the first quarter, Holdings Channel reports. The fund owned 13,870 shares of the company’s stock after selling 875 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Kellanova were worth $1,144,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Grove Bank & Trust bought a new position in shares of Kellanova in the 1st quarter valued at approximately $25,000. MorganRosel Wealth Management LLC bought a new position in Kellanova in the 1st quarter worth approximately $27,000. Flagship Wealth Advisors LLC bought a new position in Kellanova in the 4th quarter worth approximately $32,000. Accredited Wealth Management LLC bought a new position in Kellanova in the 4th quarter worth approximately $36,000. Finally, Twin Tree Management LP bought a new position in Kellanova in the 4th quarter worth approximately $39,000. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

K opened at $79.43 on Friday. The stock has a market cap of $27.56 billion, a PE ratio of 20.06, a P/E/G ratio of 4.21 and a beta of 0.28. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The stock’s 50 day simple moving average is $80.98 and its 200-day simple moving average is $81.72.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Sell-side analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.87%. Kellanova’s dividend payout ratio is 57.58%.

Analysts Set New Price Targets

K has been the topic of several recent analyst reports. Wall Street Zen downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus target price of $79.75.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $79.68, for a total value of $9,129,973.44. Following the sale, the insider owned 45,899,535 shares of the company’s stock, valued at $3,657,274,948.80. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 1,374,996 shares of company stock valued at $111,795,196. 1.80% of the stock is owned by insiders.

About Kellanova

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.