NorthRock Partners LLC Has $766,000 Stock Position in Kellanova $K

NorthRock Partners LLC reduced its stake in shares of Kellanova (NYSE:K) by 9.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,628 shares of the company’s stock after selling 1,056 shares during the period. NorthRock Partners LLC’s holdings in Kellanova were worth $766,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in Kellanova by 2.8% in the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company’s stock valued at $568,000 after purchasing an additional 186 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Kellanova by 22.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,849 shares of the company’s stock worth $1,637,000 after acquiring an additional 3,665 shares during the last quarter. Grove Bank & Trust bought a new position in shares of Kellanova during the first quarter worth about $25,000. State of Alaska Department of Revenue increased its holdings in Kellanova by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 31,506 shares of the company’s stock worth $2,598,000 after purchasing an additional 850 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Kellanova in the first quarter worth approximately $91,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 572,931 shares of company stock worth $45,755,411. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Up 0.2%

K stock opened at $82.94 on Wednesday. The stock’s fifty day simple moving average is $80.07 and its two-hundred day simple moving average is $80.79. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 1-year low of $76.48 and a 1-year high of $83.22. The stock has a market cap of $28.83 billion, a P/E ratio of 21.77, a P/E/G ratio of 5.15 and a beta of 0.24.

Kellanova (NYSE:K) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s payout ratio is currently 60.89%.

Wall Street Analysts Forecast Growth

K has been the subject of a number of research reports. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.