Kellanova (NYSE:K) Shares Sold by NBT Bank N A NY

NBT Bank N A NY lowered its stake in shares of Kellanova (NYSE:K) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 683 shares of the company’s stock after selling 184 shares during the quarter. NBT Bank N A NY’s holdings in Kellanova were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in K. AlphaQuest LLC increased its holdings in shares of Kellanova by 145.6% in the 4th quarter. AlphaQuest LLC now owns 8,831 shares of the company’s stock valued at $715,000 after acquiring an additional 5,236 shares during the period. Alpine Associates Management Inc. increased its holdings in shares of Kellanova by 93.5% in the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after acquiring an additional 296,150 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $32,000. Lifeworks Advisors LLC increased its holdings in shares of Kellanova by 18.9% in the 4th quarter. Lifeworks Advisors LLC now owns 8,626 shares of the company’s stock valued at $698,000 after acquiring an additional 1,372 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Kellanova by 51.6% in the 4th quarter. Larson Financial Group LLC now owns 1,254 shares of the company’s stock valued at $102,000 after acquiring an additional 427 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. StockNews.com started coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.96.

Kellanova Price Performance

Shares of NYSE K opened at $82.28 on Wednesday. The firm has a market capitalization of $28.41 billion, a P/E ratio of 21.26, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a one year low of $52.46 and a one year high of $83.22. The company’s fifty day moving average is $81.98 and its two-hundred day moving average is $81.16. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,145,830 shares of company stock worth $93,673,894 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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.