Kellanova (NYSE:K) Position Lowered by Farther Finance Advisors LLC

Farther Finance Advisors LLC decreased its stake in shares of Kellanova (NYSE:K) by 71.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,694 shares of the company’s stock after selling 6,613 shares during the quarter. Farther Finance Advisors LLC’s holdings in Kellanova were worth $218,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Sequoia Financial Advisors LLC raised its stake in Kellanova by 6.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 10,291 shares of the company’s stock worth $833,000 after acquiring an additional 580 shares during the period. HighTower Advisors LLC raised its stake in Kellanova by 112.9% during the fourth quarter. HighTower Advisors LLC now owns 33,946 shares of the company’s stock worth $2,749,000 after acquiring an additional 18,001 shares during the period. Miller Financial Services LLC acquired a new stake in Kellanova during the fourth quarter worth about $570,000. Independent Advisor Alliance raised its stake in Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after acquiring an additional 1,019 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Kellanova by 8.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 35,981 shares of the company’s stock worth $2,913,000 after acquiring an additional 2,665 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research note on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th. 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.com, the stock presently has an average rating of “Hold” and an average target price of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,260,413 shares of company stock worth $103,099,492 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Kellanova Price Performance

NYSE K opened at $82.36 on Thursday. Kellanova has a 12 month low of $54.70 and a 12 month high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market capitalization of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31. The company’s 50 day simple moving average is $82.11 and its 200 day simple moving average is $81.23.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

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.