Kellanova (NYSE:K) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in Kellanova (NYSE:K) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,868 shares of the company’s stock after selling 952 shares during the quarter. Yousif Capital Management LLC’s holdings in Kellanova were worth $3,012,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Oakworth Capital Inc. grew its stake in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the period. Baker Avenue Asset Management LP grew its position in shares of Kellanova by 205.4% in 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. Blue Trust Inc. increased its stake in Kellanova by 55.1% in 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 last quarter. Massmutual Trust Co. FSB ADV lifted its position in Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after buying an additional 928 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd boosted its stake in Kellanova by 1,450.0% in the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock worth $92,000 after buying an additional 1,450 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on K. DA Davidson assumed coverage on shares of Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective on the stock. Piper Sandler lifted their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Barclays lifted their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, Wells Fargo & Company raised their price objective on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.27.

Kellanova Price Performance

Shares of K stock opened at $57.73 on Monday. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a market capitalization of $19.73 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.21 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The firm has a fifty day simple moving average of $55.96 and a 200-day simple moving average of $54.33.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating 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 company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the sale, the insider now owns 52,620,238 shares of the company’s stock, valued at approximately $2,824,128,173.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 855,800 shares of company stock valued at $47,378,644. 1.80% of the stock is currently owned by corporate insiders.

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.