GPS Wealth Strategies Group LLC Sells 521 Shares of Kellanova (NYSE:K)

GPS Wealth Strategies Group LLC decreased its position in shares of Kellanova (NYSE:K) by 36.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 924 shares of the company’s stock after selling 521 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Kellanova were worth $76,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department bought a new position in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova during the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova during the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. grew its position in Kellanova by 64.8% in 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 in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the completion of the transaction, the insider now directly owns 47,389,114 shares of the company’s stock, valued at $3,906,758,558.16. This trade represents a 0.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,673,553. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

Kellanova stock opened at $79.87 on Friday. The firm has a fifty day simple moving average of $82.22 and a two-hundred day simple moving average of $81.90. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The company has a market capitalization of $27.71 billion, a PE ratio of 20.64, a P/E/G ratio of 4.21 and a beta of 0.30. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Kellanova’s dividend payout ratio is presently 57.58%.

Analyst Ratings Changes

Several analysts have commented on K shares. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Wall Street Zen downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a report on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.75.

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.