Kellanova (NYSE:K) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its position in Kellanova (NYSE:K) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,486 shares of the company’s stock after selling 1,580 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Kellanova were worth $2,387,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Investors Research Corp raised its stake in Kellanova by 1.0% during the 3rd 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 last quarter. Assetmark Inc. raised its stake in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the last quarter. MCF Advisors LLC raised its position in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. S.A. Mason LLC lifted its position in Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on K shares. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a research report on Wednesday. They set a “hold” rating on the stock. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Stock Performance

Shares of K opened at $81.73 on Friday. The company has a market capitalization of $28.17 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.49 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.79. The company’s 50 day simple moving average is $80.94 and its 200 day simple moving average is $76.37.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. On average, sell-side analysts predict that Kellanova will post 3.75 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,031,247 shares of company stock worth $83,509,236 in the last three months. Company insiders own 1.80% of the company’s stock.

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.