Kellanova $K Stock Holdings Trimmed by Carlson Capital L.P.

Carlson Capital L.P. trimmed its holdings in shares of Kellanova (NYSE:K) by 11.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 31,100 shares of the company’s stock after selling 3,900 shares during the period. Kellanova comprises 1.0% of Carlson Capital L.P.’s holdings, making the stock its 5th largest holding. Carlson Capital L.P.’s holdings in Kellanova were worth $2,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new stake in Kellanova during the 1st quarter valued at about $25,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Kellanova in the first quarter worth about $25,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Kellanova in the first quarter worth about $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Kellanova in the fourth quarter worth about $36,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Kellanova in the fourth quarter worth about $42,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on K shares. JPMorgan Chase & Co. initiated coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Wall Street Zen downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 target price on the stock in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $83.38.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $79.98, for a total transaction of $9,164,348.34. Following the completion of the sale, the insider directly owned 45,212,037 shares of the company’s stock, valued at $3,616,058,719.26. This represents a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 1,145,830 shares of company stock worth $91,534,630. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Down 0.2%

Shares of NYSE K opened at $79.83 on Wednesday. The stock has a market cap of $27.75 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 4.98 and a beta of 0.27. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 52-week low of $77.70 and a 52-week high of $83.22. The business has a 50-day moving average price of $79.69 and a 200 day moving average price of $81.36.

Kellanova (NYSE:K) last announced its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. Equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.58 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 2.9%. Kellanova’s dividend payout ratio is currently 60.89%.

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.