Kellanova $K Shares Sold by Brookstone Capital Management

Brookstone Capital Management lessened its stake in Kellanova (NYSE:K) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,084 shares of the company’s stock after selling 622 shares during the period. Brookstone Capital Management’s holdings in Kellanova were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in K. GAMMA Investing LLC boosted its stake in shares of Kellanova by 2.8% during the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company’s stock worth $568,000 after buying an additional 186 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kellanova by 22.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,849 shares of the company’s stock worth $1,637,000 after buying an additional 3,665 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Kellanova by 0.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 40,733 shares of the company’s stock worth $3,360,000 after buying an additional 299 shares during the period. Spire Wealth Management boosted its stake in shares of Kellanova by 523.1% during the first quarter. Spire Wealth Management now owns 8,580 shares of the company’s stock worth $708,000 after buying an additional 7,203 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in shares of Kellanova by 7.3% during the first quarter. Perigon Wealth Management LLC now owns 2,874 shares of the company’s stock worth $237,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 458,348 shares of company stock worth $36,597,937 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

K has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. Wall Street Zen cut shares of Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, JPMorgan Chase & Co. started coverage on shares of Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.38.

Kellanova Trading Down 0.0%

Shares of K opened at $83.01 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The firm has a 50 day simple moving average of $80.53 and a 200-day simple moving average of $80.84. Kellanova has a 1-year low of $76.48 and a 1-year high of $83.22. The stock has a market cap of $28.86 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last announced its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the business posted $1.01 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

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.