Kellanova (NYSE:K) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in shares of Kellanova (NYSE:K) by 54.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,477 shares of the company’s stock after selling 106,878 shares during the quarter. Cerity Partners LLC’s holdings in Kellanova were worth $7,324,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of Kellanova by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC increased its holdings in Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after buying an additional 140 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock worth $268,000 after buying an additional 149 shares during the last quarter. Finally, SPC Financial Inc. boosted its position in shares of Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock worth $241,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com assumed coverage on shares of Kellanova in a research report on Saturday, April 5th. They issued a “hold” rating for the company. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Up 0.1 %

K opened at $82.18 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The stock has a market capitalization of $28.37 billion, a P/E ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.34. The business has a 50 day simple moving average of $82.33 and a 200-day simple moving average of $81.46.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. On average, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the sale, the insider now owns 47,274,531 shares in the company, valued at approximately $3,877,929,777.93. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,260,413 shares of company stock valued at $103,558,970 in the last 90 days. 1.80% of the stock is currently owned by insiders.

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.