Koss Olinger Consulting LLC Has $2.42 Million Stock Position in Kellanova (NYSE:K)

Koss Olinger Consulting LLC lowered its position in shares of Kellanova (NYSE:K) by 21.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,928 shares of the company’s stock after selling 7,937 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Kellanova were worth $2,423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova in the fourth quarter worth $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% in the fourth 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 period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $82.36 on Wednesday. Kellanova has a 12-month low of $54.47 and a 12-month high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business’s 50-day moving average price is $82.09 and its two-hundred day moving average price is $81.22. The stock has a market cap of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Wall Street Analyst Weigh In

K has been the topic of a number of recent analyst reports. 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 report on Tuesday, February 18th. StockNews.com initiated coverage on Kellanova in a research report on Wednesday, March 12th. They issued a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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 that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is currently owned by corporate insiders.

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.