Rodgers Brothers Inc. Sells 36,699 Shares of Kellanova (NYSE:K)

Rodgers Brothers Inc. lessened its position in shares of Kellanova (NYSE:K) by 92.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,868 shares of the company’s stock after selling 36,699 shares during the quarter. Rodgers Brothers Inc.’s holdings in Kellanova were worth $232,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova during the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in Kellanova during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova in the 4th quarter valued at approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of Kellanova in the 4th quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com initiated coverage on shares of Kellanova in a report on Friday. They issued a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the sale, the insider now directly owns 48,534,944 shares in the company, valued at $3,951,715,140.48. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Corporate insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.1 %

K opened at $82.43 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average is $82.25 and its two-hundred day moving average is $81.36. The company has a market capitalization of $28.46 billion, a P/E ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s payout ratio is presently 58.91%.

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.