Atria Wealth Solutions Inc. Sells 4,348 Shares of Kellanova (NYSE:K)

Atria Wealth Solutions Inc. reduced its stake in Kellanova (NYSE:K) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,521 shares of the company’s stock after selling 4,348 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Kellanova were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of K. Oakworth Capital Inc. boosted its holdings in shares of Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after acquiring an additional 928 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd lifted its holdings in shares of Kellanova by 1,450.0% in the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock worth $92,000 after acquiring an additional 1,450 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, Citigroup began coverage on shares of Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus target price of $62.27.

Kellanova Stock Up 7.5 %

Shares of K stock opened at $61.28 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The stock has a market cap of $20.94 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.22 and a beta of 0.39. The company has a 50 day simple moving average of $56.15 and a two-hundred day simple moving average of $54.52.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts expect that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio is currently 81.45%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $53.62, for a total value of $4,171,636.00. Following the transaction, the insider now owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 933,600 shares of company stock valued at $51,891,044. 1.80% of the stock is owned by company insiders.

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.