Acorn Wealth Advisors LLC Reduces Holdings in Kellanova (NYSE:K)

Acorn Wealth Advisors LLC lowered its position in Kellanova (NYSE:K) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,566 shares of the company’s stock after selling 206 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Kellanova were worth $289,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova during the fourth quarter worth $28,000. First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% during 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 last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K stock opened at $82.71 on Tuesday. The stock’s 50-day moving average is $81.59 and its 200 day moving average is $80.83. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.75. 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 company has a market cap of $28.51 billion, a P/E ratio of 21.37, a PEG ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last released 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 net margin of 10.53% and a return on equity of 37.25%. Research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

K has been the subject of a number of research analyst reports. StockNews.com began coverage on shares of Kellanova in a report on Monday. They set a “hold” rating for the company. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. Finally, 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. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.96.

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.