Kellanova (NYSE:K) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. cut its stake in Kellanova (NYSE:K) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,460 shares of the company’s stock after selling 745 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Kellanova were worth $473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. CGC Financial Services LLC acquired a new position in Kellanova in the second quarter valued at approximately $27,000. Oakworth Capital Inc. raised its stake in Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares during the period. Norwood Financial Corp grew its holdings in shares of Kellanova by 81.8% during the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock valued at $30,000 after acquiring an additional 225 shares in the last quarter. Baker Avenue Asset Management LP grew its holdings in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares in the last quarter. Finally, Cowa LLC bought a new stake in Kellanova in the first quarter worth $33,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on K. Piper Sandler upped their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Barclays raised their price objective on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Twelve 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 company currently has a consensus rating of “Hold” and a consensus target price of $62.27.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $54.72, for a total value of $4,257,216.00. Following the completion of the sale, the insider now owns 52,931,438 shares in the company, valued at $2,896,408,287.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 855,800 shares of company stock worth $46,722,790 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Up 1.2 %

K stock traded up $0.66 during midday trading on Thursday, hitting $57.31. The stock had a trading volume of 406,569 shares, compared to its average volume of 3,272,195. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The business has a 50-day moving average of $54.78 and a two-hundred day moving average of $54.29. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30. The firm has a market cap of $19.59 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.09 and a beta of 0.40.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. As a group, equities research analysts forecast that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

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.