Allworth Financial LP Reduces Position in Kellanova (NYSE:K)

Allworth Financial LP lessened its holdings in shares of Kellanova (NYSE:K) by 71.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,052 shares of the company’s stock after selling 12,922 shares during the period. Allworth Financial LP’s holdings in Kellanova were worth $412,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of K. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the fourth quarter valued at approximately $27,000. MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares in the last quarter. Assetmark Inc. raised its stake in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Kellanova during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on K shares. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research note on Tuesday. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Finally, StockNews.com started coverage on shares of Kellanova in a research note on Sunday, February 16th. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

Shares of K stock opened at $82.44 on Friday. The business’s fifty day simple moving average is $81.47 and its 200-day simple moving average is $80.63. The company has a market cap of $28.42 billion, a PE ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.37. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.49.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the sale, the insider now directly owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. Corporate insiders own 1.80% of the company’s stock.

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.