Kellanova (NYSE:K) Stake Cut by New England Research & Management Inc.

New England Research & Management Inc. cut its stake in Kellanova (NYSE:K) by 38.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,335 shares of the company’s stock after selling 8,500 shares during the period. New England Research & Management Inc.’s holdings in Kellanova were worth $764,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP increased its holdings in shares of Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the period. Motco increased its holdings in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. increased its holdings in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after purchasing an additional 428 shares during the period. Finally, Northwest Financial Advisors acquired a new position in shares of Kellanova during the fourth quarter valued at $42,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now directly owns 51,219,838 shares of the company’s stock, valued at $2,952,311,462.32. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock valued at $50,941,428 over the last three months. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Kellanova stock opened at $57.68 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The company has a market capitalization of $19.72 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.05 and a beta of 0.35. Kellanova has a one year low of $47.63 and a one year high of $68.69. The business has a 50 day simple moving average of $59.71 and a 200 day simple moving average of $56.83.

Kellanova (NYSE:K) last issued its quarterly earnings data 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 return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a dividend of $0.56 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.88%. Kellanova’s payout ratio is currently 83.90%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on K shares. TD Cowen upped their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. DA Davidson upped their price target on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Barclays raised their price objective on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average price target of $61.83.

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.