Jacobi Capital Management LLC Reduces Stake in Kellanova (NYSE:K)

Jacobi Capital Management LLC lowered its holdings in Kellanova (NYSE:K) by 17.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,784 shares of the company’s stock after selling 993 shares during the quarter. Jacobi Capital Management LLC’s holdings in Kellanova were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Stonebridge Financial Group LLC purchased a new position in Kellanova during the 4th quarter worth approximately $27,000. BankPlus Trust Department purchased a new position in Kellanova during the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. grew its stake in 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 buying an additional 173 shares during the last quarter. Assetmark Inc. grew its stake in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Kellanova during the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on K. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. StockNews.com assumed coverage on Kellanova in a research report on Monday, February 24th. They set a “hold” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average target price of $77.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 1,145,830 shares of company stock valued at $93,461,916 in the last three months. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Up 0.5 %

K opened at $82.90 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The business has a 50 day simple moving average of $81.77 and a 200-day simple moving average of $81.06. The stock has a market capitalization of $28.62 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.21 and a beta of 0.37. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.94.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. Kellanova’s dividend payout ratio is currently 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.