Kellanova (NYSE:K) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its stake in Kellanova (NYSE:K) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 71,011 shares of the company’s stock after selling 4,307 shares during the quarter. Corient Private Wealth LLC’s holdings in Kellanova were worth $5,750,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after acquiring an additional 130 shares during the last quarter. Quent Capital LLC grew its position in shares of Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after purchasing an additional 140 shares during the period. Sanctuary Advisors LLC grew its position in shares of Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares during the period. SPC Financial Inc. grew its position in shares of Kellanova by 5.7% in the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after purchasing an additional 160 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Kellanova by 0.7% in the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock valued at $1,820,000 after purchasing an additional 162 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the completion of the sale, the insider now owns 47,503,697 shares in the company, valued at $3,910,029,300.07. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,374,996 shares of company stock worth $112,530,818. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Price Performance

K stock opened at $82.40 on Friday. The stock has a 50-day moving average price of $82.14 and a two-hundred day moving average price of $81.25. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. 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 company has a market cap of $28.44 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on K. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com began coverage on Kellanova in a research report on Thursday. They issued a “hold” rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus target price of $77.96.

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.