Brookstone Capital Management Sells 4,953 Shares of Kellanova (NYSE:K)

Brookstone Capital Management lowered its stake in shares of Kellanova (NYSE:K) by 2.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 167,392 shares of the company’s stock after selling 4,953 shares during the period. Brookstone Capital Management’s holdings in Kellanova were worth $13,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in K. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Kellanova in the 2nd quarter worth approximately $29,000. BNP Paribas bought a new position in shares of Kellanova in the first quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. increased its position in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Kellanova during the second quarter worth $39,000. 83.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at approximately $2,869,299,533.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total value of $4,371,582.00. Following the completion of the sale, the insider now owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,117,515 shares of company stock worth $83,979,855. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Kellanova stock opened at $80.57 on Wednesday. The firm has a market capitalization of $27.54 billion, a P/E ratio of 30.17, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a one year low of $47.63 and a one year high of $81.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The business has a fifty day moving average price of $77.48 and a 200-day moving average price of $65.11.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. As a group, equities research analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target for the company in a research note on Monday, August 5th. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $74.32.

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.