Cambridge Trust Co. Trims Stock Position in Kellanova (NYSE:K)

Cambridge Trust Co. cut its stake in shares of Kellanova (NYSE:K) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,600 shares of the company’s stock after selling 900 shares during the quarter. Cambridge Trust Co.’s holdings in Kellanova were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its holdings in Kellanova by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 25,009 shares of the company’s stock valued at $1,398,000 after buying an additional 1,347 shares during the period. KLCM Advisors Inc. increased its holdings in Kellanova by 847.0% during the fourth quarter. KLCM Advisors Inc. now owns 43,448 shares of the company’s stock valued at $2,429,000 after buying an additional 38,860 shares during the period. Everence Capital Management Inc. increased its holdings in Kellanova by 114.9% during the fourth quarter. Everence Capital Management Inc. now owns 12,810 shares of the company’s stock valued at $716,000 after buying an additional 6,850 shares during the period. LifePlan Financial LLC purchased a new position in Kellanova during the fourth quarter valued at approximately $238,000. Finally, London & Capital Asset Management Ltd boosted its stake in Kellanova by 1.6% in the fourth quarter. London & Capital Asset Management Ltd now owns 417,702 shares of the company’s stock valued at $23,354,000 after acquiring an additional 6,593 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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 Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 933,600 shares of company stock valued at $51,308,322 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on K shares. DA Davidson started coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price 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. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $62.27.

Kellanova Stock Up 1.5 %

K opened at $57.38 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 quick ratio of 0.41 and a current ratio of 0.66. The company has a fifty day moving average of $55.61 and a two-hundred day moving average of $54.04. The stock has a market capitalization of $19.61 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.11 and a beta of 0.40.

Kellanova (NYSE:K) last released 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 quarter in the previous year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, research analysts expect that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The business 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. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.90%. Kellanova’s dividend payout ratio is currently 81.45%.

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.