Cornell Pochily Investment Advisors Inc. Sells 745 Shares of Kellanova (NYSE:K)

Cornell Pochily Investment Advisors Inc. lowered its position in shares of Kellanova (NYSE:K) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,460 shares of the company’s stock after selling 745 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Kellanova were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CGC Financial Services LLC acquired a new position in shares of Kellanova in the second quarter valued at approximately $27,000. Oakworth Capital Inc. lifted its position in shares of Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Norwood Financial Corp lifted its position in shares of Kellanova by 81.8% in the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Finally, Cowa LLC bought a new stake in shares of Kellanova in the first quarter worth $33,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Wells Fargo & Company upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Barclays upped their price target on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, DA Davidson initiated coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.27.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the completion of the transaction, the insider now owns 52,231,238 shares in the company, valued at $2,904,579,145.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 855,800 shares of company stock worth $46,722,790 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Up 1.2 %

Shares of Kellanova stock traded up $0.66 during trading on Thursday, reaching $57.31. 406,569 shares of the company traded hands, compared to its average volume of 3,272,195. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The company has a 50 day moving average price of $54.78 and a 200-day moving average price of $54.29. The firm has a market capitalization of $19.59 billion, a PE ratio of 20.60, a P/E/G ratio of 2.09 and a beta of 0.40.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the business posted $0.94 EPS. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts expect that Kellanova will post 3.57 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 15th. Stockholders of record on Friday, March 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.91%. Kellanova’s payout ratio is 81.45%.

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.