Ashton Thomas Private Wealth LLC Has $937,000 Position in Kellanova (NYSE:K)

Ashton Thomas Private Wealth LLC trimmed its holdings in shares of Kellanova (NYSE:K) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,356 shares of the company’s stock after selling 325 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Kellanova were worth $937,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Naples Global Advisors LLC increased its position in Kellanova by 1.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after acquiring an additional 200 shares during the period. Financial Advisors Network Inc. increased its holdings in Kellanova by 4.2% in the 4th quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after buying an additional 204 shares during the period. Blue Trust Inc. increased its holdings in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares during the period. Czech National Bank increased its holdings in Kellanova by 0.5% in the 1st quarter. Czech National Bank now owns 46,405 shares of the company’s stock valued at $2,659,000 after buying an additional 213 shares during the period. Finally, Kennedy Investment Group increased its holdings in Kellanova by 1.2% in the 4th quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after buying an additional 218 shares during the period. 83.87% of the stock is owned by institutional investors.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders sold 865,600 shares of company stock worth $50,941,428 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Kellanova Trading Down 0.8 %

Shares of NYSE K traded down $0.48 during midday trading on Friday, reaching $56.19. The stock had a trading volume of 170,941 shares, compared to its average volume of 2,888,526. The firm has a market cap of $19.21 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.01 and a beta of 0.34. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.61. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The company’s 50 day moving average price is $59.58 and its 200 day moving average price is $56.89.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 EPS. As a group, sell-side analysts expect that Kellanova will post 3.62 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.99%. Kellanova’s dividend payout ratio is currently 83.90%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on K shares. TD Cowen raised their target price on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. DA Davidson lifted their price target on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Barclays lifted their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.83.

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.