Fernwood Investment Management LLC Sells 1,643 Shares of Kellanova (NYSE:K)

Fernwood Investment Management LLC cut its holdings in shares of Kellanova (NYSE:K) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,368 shares of the company’s stock after selling 1,643 shares during the quarter. Fernwood Investment Management LLC’s holdings in Kellanova were worth $1,027,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Oakworth Capital Inc. grew its position in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares in the last quarter. Baker Avenue Asset Management LP grew its position in shares of Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares in the last quarter. Blue Trust Inc. grew its position in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after purchasing an additional 928 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd grew its position in shares of Kellanova by 1,450.0% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after purchasing an additional 1,450 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the transaction, the insider now owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 933,600 shares of company stock worth $51,891,044. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on K shares. DA Davidson began coverage on Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. Piper Sandler raised their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Citigroup began coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. Barclays raised their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Finally, StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.27.

Kellanova Stock Performance

Shares of K traded up $0.48 during trading hours on Monday, reaching $58.21. 2,957,053 shares of the company traded hands, compared to its average volume of 3,098,992. The stock has a market capitalization of $19.89 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.21 and a beta of 0.40. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The business has a fifty day moving average price of $55.96 and a 200-day moving average price of $54.33.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.85%. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

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.