Kellanova (NYSE:K) Shares Sold by Eukles Asset Management

Eukles Asset Management trimmed its position in shares of Kellanova (NYSE:K) by 4.7% during the fourth quarter, HoldingsChannel reports. The fund owned 23,627 shares of the company’s stock after selling 1,163 shares during the quarter. Eukles Asset Management’s holdings in Kellanova were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in Kellanova by 1.2% during the first quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock worth $2,122,486,000 after buying an additional 369,648 shares during the period. Vanguard Group Inc. grew its position in Kellanova by 2.3% during the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after buying an additional 646,828 shares during the period. State Street Corp grew its position in Kellanova by 2.6% during the first quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after buying an additional 369,620 shares during the period. Geode Capital Management LLC grew its position in Kellanova by 2.9% during the first quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company’s stock worth $378,150,000 after buying an additional 159,028 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Kellanova by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock worth $330,841,000 after buying an additional 200,870 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

K has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price objective on the stock. Barclays upped their price target on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, Piper Sandler upped their price target on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.27.

Kellanova Stock Performance

Shares of Kellanova stock traded up $1.03 during trading hours on Friday, reaching $57.57. The company’s stock had a trading volume of 625,660 shares, compared to its average volume of 3,108,809. The company’s 50 day simple moving average is $55.54 and its 200 day simple moving average is $54.00. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a one year low of $47.63 and a one year high of $72.30. The stock has a market cap of $19.68 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.40.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. As a group, analysts expect that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.89%. Kellanova’s payout ratio is 81.45%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $57.46, for a total transaction of $4,470,388.00. Following the transaction, the insider now owns 52,075,638 shares of the company’s stock, valued at approximately $2,992,266,159.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 933,600 shares of company stock valued at $51,308,322. Company insiders own 1.80% of the company’s stock.

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.