Kellanova (NYSE:K) Shares Sold by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC cut its position in Kellanova (NYSE:K) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,566 shares of the company’s stock after selling 206 shares during the period. Acorn Wealth Advisors LLC’s holdings in Kellanova were worth $289,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of K. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the 4th quarter worth about $28,000. First Horizon Advisors Inc. grew its position in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of NYSE K opened at $82.71 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm has a fifty day moving average of $81.59 and a 200 day moving average of $80.83. The firm has a market cap of $28.51 billion, a PE ratio of 21.37, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a one year low of $52.46 and a one year high of $82.75.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the transaction, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 1,145,830 shares of company stock valued at $93,291,187 over the last quarter. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Finally, StockNews.com assumed coverage on shares of Kellanova in a report on Monday. They set a “hold” rating for the company. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $77.96.

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.