First Financial Bank Trust Division Sells 7,418 Shares of Kellanova (NYSE:K)

First Financial Bank Trust Division cut its stake in shares of Kellanova (NYSE:K) by 36.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,770 shares of the company’s stock after selling 7,418 shares during the quarter. First Financial Bank Trust Division’s holdings in Kellanova were worth $1,034,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. increased its position in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Kellanova during the second quarter worth about $88,065,000. Westchester Capital Management LLC acquired a new stake in shares of Kellanova during the third quarter worth approximately $107,795,000. Point72 Asset Management L.P. bought a new position in shares of Kellanova in the second quarter valued at approximately $63,585,000. Finally, Barclays PLC boosted its holdings in shares of 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 acquiring an additional 1,033,383 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of a number of recent analyst reports. StockNews.com began coverage on Kellanova in a report on Monday. They set a “hold” rating for the company. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Fifteen research 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, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $76.35.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 1,031,247 shares of company stock valued at $83,337,362. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Up 0.1 %

Shares of NYSE K traded up $0.09 during mid-day trading on Thursday, hitting $81.06. The company’s stock had a trading volume of 2,035,362 shares, compared to its average volume of 2,899,227. Kellanova has a one year low of $52.46 and a one year high of $81.34. The company’s fifty day simple moving average is $80.80 and its 200-day simple moving average is $74.69. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. On average, sell-side analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s dividend payout ratio is presently 78.35%.

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.