Kellanova $K Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC lowered its stake in Kellanova (NYSE:K) by 73.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,162 shares of the company’s stock after selling 31,124 shares during the quarter. Bristlecone Advisors LLC’s holdings in Kellanova were worth $888,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new stake in Kellanova in the 1st quarter valued at $25,000. Trust Co. of Toledo NA OH acquired a new stake in Kellanova in the 2nd quarter valued at $45,000. Dagco Inc. acquired a new stake in Kellanova in the 1st quarter valued at $49,000. Cypress Capital Management LLC WY acquired a new stake in Kellanova during the 1st quarter worth $54,000. Finally, Capital Advisors Ltd. LLC boosted its stake in Kellanova by 32.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on K. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Wall Street Zen cut shares of Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Weiss Ratings cut shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $83.38.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 343,765 shares of company stock worth $27,455,360. 1.80% of the stock is owned by insiders.

Kellanova Stock Down 0.1%

NYSE K opened at $83.03 on Thursday. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.22. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The business’s fifty day simple moving average is $80.72 and its 200-day simple moving average is $80.85. The firm has a market cap of $28.87 billion, a PE ratio of 21.79, a P/E/G ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st. Kellanova’s payout ratio is currently 60.89%.

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.