Forum Financial Management LP Has $241,000 Stock Holdings in Kellanova (NYSE:K)

Forum Financial Management LP lowered its holdings in shares of Kellanova (NYSE:K) by 8.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,976 shares of the company’s stock after selling 286 shares during the period. Forum Financial Management LP’s holdings in Kellanova were worth $241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Independent Advisor Alliance raised its position in Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the last quarter. Aviva PLC increased its stake in shares of Kellanova by 2.6% in the fourth quarter. Aviva PLC now owns 542,709 shares of the company’s stock valued at $43,943,000 after buying an additional 13,531 shares during the period. Wedmont Private Capital bought a new position in Kellanova in the 4th quarter valued at approximately $384,000. FNY Investment Advisers LLC acquired a new stake in Kellanova during the 4th quarter worth approximately $2,490,000. Finally, Barclays PLC grew its holdings in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $82.23, for a total value of $9,422,160.09. Following the completion of the sale, the insider now directly owns 48,191,195 shares of the company’s stock, valued at $3,962,761,964.85. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,737,719 over the last three months. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on K shares. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a research report on Monday. They set a “buy” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Price Performance

K stock opened at $82.59 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company’s 50-day moving average is $82.37 and its 200-day moving average is $81.54. The stock has a market capitalization of $28.51 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is 58.91%.

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.