EverSource Wealth Advisors LLC Cuts Stock Position in Kellanova (NYSE:K)

EverSource Wealth Advisors LLC reduced its position in Kellanova (NYSE:K) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,246 shares of the company’s stock after selling 168 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Kellanova were worth $101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the 4th quarter worth about $27,000. BankPlus Trust Department purchased a new stake in Kellanova during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the 4th quarter valued at about $32,000. First Horizon Advisors Inc. boosted its holdings in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the period. Finally, Sherman Asset Management Inc. purchased a new stake in Kellanova during the 4th quarter valued at about $43,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.0 %

Shares of NYSE:K opened at $82.36 on Wednesday. Kellanova has a 52-week low of $54.47 and a 52-week high of $83.22. The firm has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31. The stock has a 50 day moving average price of $82.09 and a 200-day moving average price of $81.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

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

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,099,492 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on K. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a report on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a report on Wednesday, March 12th. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus target price of $77.96.

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.