Clark & Stuart Inc Reduces Stock Holdings in Kellanova $K

Clark & Stuart Inc lessened its stake in Kellanova (NYSE:K) by 8.9% in the second quarter, Holdings Channel reports. The fund owned 14,687 shares of the company’s stock after selling 1,428 shares during the quarter. Kellanova makes up about 0.9% of Clark & Stuart Inc’s holdings, making the stock its 29th biggest holding. Clark & Stuart Inc’s holdings in Kellanova were worth $1,168,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Grove Bank & Trust purchased a new stake in shares of Kellanova during the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC acquired a new stake in Kellanova during the 1st quarter valued at $25,000. MorganRosel Wealth Management LLC acquired a new stake in Kellanova during the 1st quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new stake in Kellanova during the 1st quarter worth $49,000. Finally, Dagco Inc. acquired a new position in Kellanova in the 1st quarter worth $49,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on K shares. Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Kellanova in a research note on Saturday, September 27th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.38.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 687,514 shares of company stock worth $54,869,342 in the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.67 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The firm’s 50-day simple moving average is $79.72 and its 200-day simple moving average is $80.76. The firm has a market cap of $28.74 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 5.15 and a beta of 0.24.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio is currently 60.89%.

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.