EverSource Wealth Advisors LLC Cuts Holdings in Kellanova (NYSE:K)

EverSource Wealth Advisors LLC trimmed its holdings in shares of Kellanova (NYSE:K) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,246 shares of the company’s stock after selling 168 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Kellanova were worth $101,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Investors Research Corp raised its holdings in Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after acquiring an additional 125 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after acquiring an additional 130 shares during the period. Assetmark Inc. raised its holdings in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the period. Quent Capital LLC raised its holdings in Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after acquiring an additional 140 shares during the period. Finally, Sanctuary Advisors LLC raised its holdings in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after acquiring an additional 145 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

K has been the topic of several research reports. StockNews.com initiated coverage on Kellanova in a report on Wednesday, March 12th. They issued a “hold” rating on the stock. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Trading Down 0.0 %

Shares of NYSE K opened at $82.36 on Wednesday. The business’s 50 day moving average is $82.09 and its two-hundred day moving average is $81.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1-year low of $54.47 and a 1-year high of $83.22. The stock has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, 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, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is 58.91%.

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.