Murphy Middleton Hinkle & Parker Inc. Lowers Position in Kellanova (NYSE:K)

Murphy Middleton Hinkle & Parker Inc. trimmed its position in shares of Kellanova (NYSE:K) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,553 shares of the company’s stock after selling 603 shares during the quarter. Murphy Middleton Hinkle & Parker Inc.’s holdings in Kellanova were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Investors Research Corp lifted its holdings in Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares during the period. Assetmark Inc. increased its position in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. S.A. Mason LLC raised its stake in shares of Kellanova by 7.6% during the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after purchasing an additional 140 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after buying an additional 145 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com initiated coverage on shares of Kellanova in a research report on Wednesday. They issued a “hold” rating on the stock. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas downgraded 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. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Stock Up 0.2 %

Shares of NYSE K opened at $81.73 on Friday. The business has a 50-day simple moving average of $80.95 and a two-hundred day simple moving average of $76.41. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.79. The company has a market cap of $28.17 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.49 and a beta of 0.37. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $1.03 earnings per share. Research analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 1,031,247 shares of company stock valued at $83,509,236. Company insiders own 1.80% of the company’s stock.

Kellanova Company 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.