Kapitalo Investimentos Ltda Sells 10,397 Shares of Kellanova (NYSE:K)

Kapitalo Investimentos Ltda lowered its stake in shares of Kellanova (NYSE:K) by 87.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,532 shares of the company’s stock after selling 10,397 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Kellanova were worth $86,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP raised its position in shares of Kellanova by 205.4% during the third 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. Motco boosted its stake in shares of Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. grew its position in shares of Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after buying an additional 428 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in Kellanova in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock opened at $58.80 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.09 and a beta of 0.35. The stock’s 50-day moving average is $59.48 and its 200-day moving average is $56.66. Kellanova has a one year low of $47.63 and a one year high of $68.69.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business earned $1.10 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Kellanova will post 3.61 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $57.89, for a total transaction of $4,503,842.00. Following the transaction, the insider now owns 51,375,438 shares of the company’s stock, valued at $2,974,124,105.82. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $57.89, for a total transaction of $4,503,842.00. Following the sale, the insider now directly owns 51,375,438 shares of the company’s stock, valued at approximately $2,974,124,105.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 787,800 shares of company stock worth $46,428,250. Corporate insiders own 1.80% of the company’s stock.

About Kellanova

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.