Biltmore Family Office LLC Sells 304 Shares of Kellanova (NYSE:K)

Biltmore Family Office LLC lowered its position in Kellanova (NYSE:K) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,000 shares of the company’s stock after selling 304 shares during the quarter. Biltmore Family Office LLC’s holdings in Kellanova were worth $567,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova in the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova during the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its stake in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Performance

Shares of NYSE:K opened at $82.50 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average price is $82.28 and its 200 day moving average price is $81.38. The company has a market cap of $28.48 billion, a PE ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the sale, the insider now directly owns 48,534,944 shares of the company’s stock, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on K. StockNews.com started coverage on shares of Kellanova in a report on Friday, March 28th. They issued a “hold” rating for the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

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.