Kellanova (NYSE:K) Shares Sold by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. lessened its holdings in Kellanova (NYSE:K) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 943 shares of the company’s stock after selling 227 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Kellanova were worth $53,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Baker Avenue Asset Management LP lifted 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 valued at $30,000 after buying an additional 341 shares during the last quarter. Motco lifted its stake in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. lifted its stake in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kellanova by 139.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after buying an additional 428 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in Kellanova in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of Kellanova stock opened at $58.80 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $59.44 and its two-hundred day moving average price is $56.64. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The stock has a market cap of $20.10 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.06 and a beta of 0.35.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, sell-side analysts anticipate that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $55.61, for a total value of $4,326,458.00. Following the transaction, the insider now owns 52,231,238 shares of the company’s stock, valued at approximately $2,904,579,145.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $55.61, for a total value of $4,326,458.00. Following the transaction, the insider now directly owns 52,231,238 shares in the company, valued at approximately $2,904,579,145.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 865,600 shares of company stock valued at $50,754,708. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen raised their target price on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. DA Davidson lifted their price objective on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Barclays lifted their price objective on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.85.

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.