Kestra Advisory Services LLC Sells 964 Shares of Kellanova $K

Kestra Advisory Services LLC cut its stake in Kellanova (NYSE:K) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,239 shares of the company’s stock after selling 964 shares during the quarter. Kestra Advisory Services LLC’s holdings in Kellanova were worth $2,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust acquired a new position in Kellanova in the 1st quarter valued at about $25,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Kellanova in the first quarter valued at approximately $25,000. MorganRosel Wealth Management LLC bought a new position in shares of Kellanova during the first quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new position in shares of Kellanova during the fourth quarter worth approximately $36,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in Kellanova during the 4th quarter worth approximately $42,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $79.46 on Friday. 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 has a fifty-two week low of $77.70 and a fifty-two week high of $83.22. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 4.97 and a beta of 0.27. The stock has a fifty day moving average price of $79.72 and a 200-day moving average price of $81.33.

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

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued 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 is Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. Kellanova’s payout ratio is currently 59.84%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 1,260,429 shares of company stock worth $100,650,980. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on K. Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. Finally, Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.38.

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.