Kellanova (NYSE:K) Stock Holdings Lessened by Captrust Financial Advisors

Captrust Financial Advisors lowered its holdings in Kellanova (NYSE:K) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,641 shares of the company’s stock after selling 526 shares during the period. Captrust Financial Advisors’ holdings in Kellanova were worth $2,805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in Kellanova during the 4th quarter valued at about $285,126,000. Franklin Resources Inc. raised its holdings in shares of Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after buying an additional 2,313,047 shares during the last quarter. FIL Ltd boosted its position in shares of Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock worth $193,356,000 after buying an additional 1,542,000 shares during the period. Barclays PLC grew its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its position in Kellanova by 136.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock valued at $141,356,000 after acquiring an additional 1,006,100 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

K has been the subject of several recent analyst reports. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average target price of $79.41.

Kellanova Stock Performance

NYSE:K opened at $82.50 on Monday. The company has a 50-day moving average of $82.39 and a 200-day moving average of $81.71. The firm has a market cap of $28.62 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. 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 twelve month low of $55.96 and a twelve month high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. Analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is 57.58%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares in the company, valued at $3,954,301,337. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,839,698. 1.80% of the stock is owned by corporate insiders.

Kellanova 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.