Dillon & Associates Inc. Cuts Position in Kellanova (NYSE:K)

Dillon & Associates Inc. lessened its position in shares of Kellanova (NYSE:K) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,010 shares of the company’s stock after selling 4,010 shares during the quarter. Dillon & Associates Inc.’s holdings in Kellanova were worth $325,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova in the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of Kellanova in the 4th quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on K shares. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com began coverage on Kellanova in a research note on Thursday. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Up 0.1 %

Shares of NYSE K opened at $82.40 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business has a fifty day simple moving average of $82.14 and a two-hundred day simple moving average of $81.26. The firm has a market cap of $28.44 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22.

Kellanova (NYSE:K) last issued its 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 return on equity of 37.25% and a net margin of 10.53%. Analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. 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 dividend payout ratio (DPR) is presently 58.91%.

Insider Transactions 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 Friday, March 21st. The stock was sold at an average price of $82.31, for a total value of $9,431,326.73. Following the completion of the transaction, the insider now directly owns 47,503,697 shares of the company’s stock, valued at approximately $3,910,029,300.07. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,290,845. Corporate insiders own 1.80% of the company’s stock.

About Kellanova

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.