Greatmark Investment Partners Inc. Has $1.19 Million Stock Holdings in Kellanova (NYSE:K)

Greatmark Investment Partners Inc. lessened its stake in Kellanova (NYSE:K) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,745 shares of the company’s stock after selling 565 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Kellanova were worth $1,194,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova during the 4th quarter worth $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in shares of Kellanova during the 4th quarter worth $32,000. First Horizon Advisors Inc. increased its stake in shares of Kellanova by 64.8% during 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 last quarter. Finally, Sherman Asset Management Inc. acquired a new position in shares of Kellanova during the 4th quarter worth $43,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on K. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research note on Tuesday, February 18th. StockNews.com began coverage on shares of Kellanova in a research note on Wednesday. They issued a “hold” rating on the stock. Thirteen investment 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 presently has an average rating of “Hold” and a consensus price target of $77.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the transaction, the insider now directly owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,099,492. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of Kellanova stock opened at $82.22 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a fifty-two week low of $52.53 and a fifty-two week high of $83.22. The firm has a fifty day moving average price of $82.05 and a two-hundred day moving average price of $81.19. The company has a market cap of $28.38 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

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.