Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,055 Shares of Kellanova $K

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in Kellanova (NYSE:K) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,416 shares of the company’s stock after selling 1,055 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Kellanova were worth $2,101,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pentwater Capital Management LP lifted its stake in Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock worth $659,920,000 after acquiring an additional 2,245,000 shares during the period. JPMorgan Chase & Co. increased its position in shares of Kellanova by 66.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock worth $199,049,000 after purchasing an additional 962,172 shares during the last quarter. Syquant Capital Sas grew its position in Kellanova by 123.6% in the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after acquiring an additional 632,168 shares in the last quarter. Alpine Associates Management Inc. lifted its stake in Kellanova by 89.0% during the first quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company’s stock worth $95,536,000 after purchasing an additional 545,300 shares during the last quarter. Finally, PSquared Asset Management AG purchased a new stake in Kellanova during the first quarter worth approximately $28,905,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K opened at $82.85 on Friday. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 5.16 and a beta of 0.24. The stock has a 50 day moving average of $79.95 and a 200-day moving average of $80.80. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio (DPR) is presently 60.89%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 687,514 shares of company stock valued at $54,869,342. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent analyst reports. Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. JPMorgan Chase & Co. started coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Finally, Wall Street Zen cut shares of Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $83.38.

Kellanova Company 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.