Capital Investment Advisory Services LLC Trims Stock Position in Kellanova (NYSE:K)

Capital Investment Advisory Services LLC lowered its stake in shares of Kellanova (NYSE:K) by 18.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,395 shares of the company’s stock after selling 994 shares during the period. Capital Investment Advisory Services LLC’s holdings in Kellanova were worth $246,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Oakworth Capital Inc. raised its stake in shares of Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after buying an additional 393 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Kellanova by 205.4% in the 3rd 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 in the last quarter. Blue Trust Inc. increased its stake in shares of Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Kellanova by 95.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock valued at $70,000 after purchasing an additional 570 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Kellanova by 339.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after purchasing an additional 928 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the sale, the insider now owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 933,600 shares of company stock worth $51,632,748. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on K shares. Barclays lifted their price target on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Wells Fargo & Company lifted their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.27.

Kellanova Trading Up 1.0 %

Shares of Kellanova stock opened at $58.75 on Thursday. The stock has a market cap of $20.08 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.23 and a beta of 0.40. The stock’s 50 day simple moving average is $55.85 and its 200-day simple moving average is $54.19. Kellanova has a 1-year low of $47.63 and a 1-year 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.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is presently 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.