Kellanova (NYSE:K) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its holdings in shares of Kellanova (NYSE:K) by 27.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,652 shares of the company’s stock after selling 1,726 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Kellanova were worth $267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Naples Global Advisors LLC boosted its position in shares of Kellanova by 1.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after buying an additional 200 shares during the period. Financial Advisors Network Inc. increased its stake in Kellanova by 4.2% during the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after purchasing an additional 204 shares during the period. Blue Trust Inc. lifted its position in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. Czech National Bank boosted its stake in shares of Kellanova by 0.5% in the first quarter. Czech National Bank now owns 46,405 shares of the company’s stock valued at $2,659,000 after purchasing an additional 213 shares during the period. Finally, Kennedy Investment Group grew its holdings in shares of Kellanova by 1.2% in the fourth quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after purchasing an additional 218 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $55.35, for a total value of $4,306,230.00. Following the transaction, the insider now directly owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $55.35, for a total value of $4,306,230.00. Following the completion of the transaction, the insider now owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on 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 directly owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock worth $50,941,428 over the last ninety days. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

K opened at $57.68 on Friday. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.69. The business has a 50-day moving average of $59.71 and a two-hundred day moving average of $56.83. 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 stock has a market capitalization of $19.72 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.04 and a beta of 0.35.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $1.10 EPS. On average, research analysts expect that Kellanova will post 3.61 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a dividend of $0.56 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. TD Cowen lifted their target price on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, DA Davidson upped their price target on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $61.83.

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.