Greatmark Investment Partners Inc. Has $1.19 Million Stock Position in Kellanova (NYSE:K)

Greatmark Investment Partners Inc. lowered its position in shares of Kellanova (NYSE:K) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,745 shares of the company’s stock after selling 565 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Kellanova were worth $1,194,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the 4th quarter worth about $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova in the 4th quarter valued at about $32,000. First Horizon Advisors Inc. increased its position in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $82.22 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a twelve month low of $52.53 and a twelve month high of $83.22. The firm’s 50 day moving average price is $82.05 and its two-hundred day moving average price is $81.19. The firm has a market cap of $28.38 billion, a P/E ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. On average, analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Wall Street Analyst Weigh In

K has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Kellanova in a research report on Wednesday. They set a “hold” rating for the company. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Company 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.