Cresset Asset Management LLC Sells 2,037 Shares of Kellanova $K

Cresset Asset Management LLC cut its stake in Kellanova (NYSE:K) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,008 shares of the company’s stock after selling 2,037 shares during the quarter. Cresset Asset Management LLC’s holdings in Kellanova were worth $6,270,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Financial Counselors Inc. bought a new position in Kellanova during the first quarter worth about $522,000. IFM Investors Pty Ltd increased its position in Kellanova by 11.6% during the first quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock worth $4,620,000 after acquiring an additional 5,957 shares during the period. Retirement Guys Formula LLC bought a new position in Kellanova during the first quarter worth about $934,000. Syquant Capital Sas increased its position in Kellanova by 39.9% during the first quarter. Syquant Capital Sas now owns 511,400 shares of the company’s stock worth $42,185,000 after acquiring an additional 145,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Kellanova by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock worth $2,771,000 after acquiring an additional 3,747 shares during the period. 83.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $80.07, for a total value of $9,174,660.81. Following the sale, the insider directly owned 45,326,620 shares in the company, valued at approximately $3,629,302,463.40. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $101,234,081. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $80.19 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 12 month low of $77.70 and a 12 month high of $83.22. The firm has a market cap of $27.88 billion, a P/E ratio of 21.05, a P/E/G ratio of 4.97 and a beta of 0.27. The company’s 50-day moving average price is $79.80 and its two-hundred day moving average price is $81.45.

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

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.58 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. Kellanova’s dividend payout ratio (DPR) is presently 59.84%.

Wall Street Analysts Forecast Growth

Several research firms have commented on K. Wall Street Zen lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 target price on the stock in a report on Thursday, May 29th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.38.

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.