Kellanova $K Shares Sold by Aull & Monroe Investment Management Corp

Aull & Monroe Investment Management Corp lessened its holdings in Kellanova (NYSE:K) by 27.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,629 shares of the company’s stock after selling 1,000 shares during the quarter. Aull & Monroe Investment Management Corp’s holdings in Kellanova were worth $209,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Chevy Chase Trust Holdings LLC increased its holdings in Kellanova by 0.7% in the second quarter. Chevy Chase Trust Holdings LLC now owns 142,613 shares of the company’s stock valued at $11,342,000 after buying an additional 1,007 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in Kellanova by 16.7% in the second quarter. Rosenberg Matthew Hamilton now owns 1,590 shares of the company’s stock valued at $126,000 after buying an additional 228 shares during the last quarter. TD Asset Management Inc increased its holdings in Kellanova by 0.6% in the second quarter. TD Asset Management Inc now owns 99,812 shares of the company’s stock valued at $7,938,000 after buying an additional 611 shares during the last quarter. Welch Group LLC increased its holdings in Kellanova by 5.3% in the second quarter. Welch Group LLC now owns 5,083 shares of the company’s stock valued at $404,000 after buying an additional 257 shares during the last quarter. Finally, CWM LLC increased its holdings in Kellanova by 3.7% in the second quarter. CWM LLC now owns 14,288 shares of the company’s stock valued at $1,136,000 after buying an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the 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 sale, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 572,931 shares of company stock worth $45,755,411 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

K has been the topic of several recent analyst reports. Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective on the stock. Finally, Wall Street Zen lowered 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 issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.38.

Kellanova Stock Performance

Shares of K stock opened at $83.09 on Friday. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 5.16 and a beta of 0.24. The stock’s 50-day moving average is $80.25 and its two-hundred day moving average is $80.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68.

Kellanova (NYSE:K) last announced its earnings results 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). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the company posted $1.01 EPS. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. Analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced 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 represents a $2.32 annualized dividend and a dividend yield of 2.8%. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, September 2nd. Kellanova’s payout ratio is currently 60.89%.

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.