Advisors Asset Management Inc. Sells 2,440 Shares of Kellanova (NYSE:K)

Advisors Asset Management Inc. reduced its stake in Kellanova (NYSE:K) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,111 shares of the company’s stock after selling 2,440 shares during the period. Advisors Asset Management Inc.’s holdings in Kellanova were worth $2,357,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova in the fourth quarter worth $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the fourth quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova in the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. raised its position in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent analyst reports. 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 began coverage on Kellanova in a research report on Thursday. They set a “hold” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

Kellanova stock opened at $82.40 on Friday. 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 company has a market capitalization of $28.44 billion, a P/E ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.31. The stock’s 50 day moving average is $82.14 and its 200 day moving average is $81.25. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors 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 yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 1,374,996 shares of company stock valued at $112,530,818. 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.