SG Americas Securities LLC Lowers Position in Kellanova (NYSE:K)

SG Americas Securities LLC reduced its holdings in Kellanova (NYSE:K) by 88.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,559 shares of the company’s stock after selling 250,156 shares during the quarter. SG Americas Securities LLC owned 4.04% of Kellanova worth $1,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CGC Financial Services LLC bought a new stake in Kellanova during the second quarter valued at approximately $27,000. Oakworth Capital Inc. lifted 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 acquiring an additional 393 shares during the last quarter. Norwood Financial Corp lifted its holdings in shares of Kellanova by 81.8% in the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after acquiring an additional 225 shares during the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after acquiring an additional 341 shares during the last quarter. Finally, Cowa LLC bought a new stake in shares of Kellanova in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $54.72, for a total transaction of $4,257,216.00. Following the sale, the insider now directly owns 52,931,438 shares of the company’s stock, valued at approximately $2,896,408,287.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 855,800 shares of company stock valued at $46,722,790. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on K shares. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a 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 stock an “equal weight” rating in a report on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price target for the company. Barclays upped their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.27.

Kellanova Stock Up 1.4 %

NYSE:K opened at $56.65 on Thursday. The firm’s 50-day moving average price is $54.78 and its 200-day moving average price is $54.29. The company has a market capitalization of $19.36 billion, a PE ratio of 20.60, a P/E/G ratio of 2.08 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. On average, equities analysts predict that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is 81.45%.

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.