Global Retirement Partners LLC Has $76,000 Stock Position in Kellanova (NYSE:K)

Global Retirement Partners LLC reduced its position in shares of Kellanova (NYSE:K) by 33.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 940 shares of the company’s stock after selling 473 shares during the period. Global Retirement Partners LLC’s holdings in Kellanova were worth $76,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova during the fourth quarter worth $27,000. Assetmark Inc. increased its holdings in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Kellanova during the third quarter worth $55,000. New Wave Wealth Advisors LLC acquired a new position in shares of Kellanova during the fourth quarter worth $56,000. Finally, ST Germain D J Co. Inc. increased its holdings in shares of Kellanova by 114.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock worth $61,000 after buying an additional 400 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of K opened at $82.90 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.62 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The firm’s fifty day simple moving average is $81.77 and its two-hundred day simple moving average is $80.96. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.94.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the transaction, the insider now owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 1,145,830 shares of company stock worth $93,461,916. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

K has been the subject of several research analyst reports. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Kellanova in a report on Monday, February 24th. They set a “hold” rating for the company. Finally, 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 report on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $77.96.

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.