Kellanova (NYSE:K) Stock Holdings Lessened by Bleakley Financial Group LLC

Bleakley Financial Group LLC trimmed its stake in Kellanova (NYSE:K) by 51.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,865 shares of the company’s stock after selling 10,617 shares during the quarter. Bleakley Financial Group LLC’s holdings in Kellanova were worth $552,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in K. Comerica Bank bought a new position in Kellanova during the third quarter valued at approximately $4,974,000. Raymond James & Associates raised its position in Kellanova by 11.9% during the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock valued at $22,385,000 after acquiring an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC raised its position in Kellanova by 25.7% during the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after acquiring an additional 9,434 shares in the last quarter. CX Institutional raised its position in Kellanova by 52.9% during the fourth quarter. CX Institutional now owns 59,975 shares of the company’s stock valued at $3,353,000 after acquiring an additional 20,752 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. bought a new position in Kellanova during the third quarter valued at approximately $3,248,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

K has been the topic of several recent research reports. Citigroup initiated coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective on the stock. Stifel Nicolaus lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.27.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $53.59, for a total transaction of $4,169,302.00. Following the completion of the transaction, the insider now directly owns 52,853,638 shares of the company’s stock, valued at $2,832,426,460.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 933,600 shares of company stock worth $51,259,308 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Down 1.3 %

K opened at $55.42 on Friday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The firm’s fifty day moving average price is $55.41 and its two-hundred day moving average price is $54.06. The company has a market capitalization of $18.94 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.10 and a beta of 0.40.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts anticipate that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 4.04%. Kellanova’s dividend payout ratio is currently 81.45%.

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.