Investors Research Corp Sells 250 Shares of Kellanova (NYSE:K)

Investors Research Corp cut its position in shares of Kellanova (NYSE:K) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,741 shares of the company’s stock after selling 250 shares during the quarter. Investors Research Corp’s holdings in Kellanova were worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in Kellanova during the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in Kellanova in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the fourth quarter worth $32,000. First Horizon Advisors Inc. boosted its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the period. Finally, Sherman Asset Management Inc. purchased a new stake in shares of Kellanova during the fourth quarter worth about $43,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 0.0 %

Kellanova stock opened at $82.45 on Monday. The stock has a market cap of $28.46 billion, a PE ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average price of $81.92 and a 200 day moving average price of $81.14. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s dividend payout ratio is 58.91%.

Analyst Ratings Changes

Several research firms recently weighed in on K. StockNews.com initiated coverage on shares of Kellanova in a research note on Tuesday, March 4th. They set a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.96.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now directly owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,145,830 shares of company stock worth $93,673,894. 1.80% of the stock is currently owned by company insiders.

Kellanova Company 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.