Kellanova $K Shares Sold by Blue Trust Inc.

Blue Trust Inc. trimmed its stake in shares of Kellanova (NYSE:K) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,955 shares of the company’s stock after selling 856 shares during the quarter. Blue Trust Inc.’s holdings in Kellanova were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of K. Grove Bank & Trust acquired a new stake in shares of Kellanova during the first quarter worth $25,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Kellanova in the 1st quarter worth $25,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Kellanova in the 1st quarter worth $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of Kellanova in the 1st quarter worth $49,000. Finally, Dagco Inc. acquired a new stake in Kellanova in the first quarter valued at about $49,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

K stock opened at $82.81 on Tuesday. The firm has a 50 day moving average of $80.01 and a 200-day moving average of $80.78. Kellanova has a 12-month low of $76.48 and a 12-month high of $83.22. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The company has a market cap of $28.79 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 5.16 and a beta of 0.24.

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

Kellanova Increases Dividend

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

Analyst Ratings Changes

K has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target for the company. Finally, Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.38.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 572,931 shares of company stock worth $45,755,411. Insiders own 1.80% of the company’s stock.

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.