Kellanova (NYSE:K) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in shares of Kellanova (NYSE:K) by 5.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,486 shares of the company’s stock after selling 1,580 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Kellanova were worth $2,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of K. Brooklyn Investment Group increased its holdings in Kellanova by 26.6% in the 4th quarter. Brooklyn Investment Group now owns 1,677 shares of the company’s stock worth $136,000 after acquiring an additional 352 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Kellanova by 29.8% in the fourth quarter. Merit Financial Group LLC now owns 4,952 shares of the company’s stock valued at $401,000 after purchasing an additional 1,138 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $2,618,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Kellanova by 20.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 30,078 shares of the company’s stock worth $2,435,000 after purchasing an additional 5,169 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Kellanova by 2.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 17,288 shares of the company’s stock valued at $1,400,000 after buying an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the sale, the insider now directly owns 48,534,944 shares of the company’s stock, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 1,031,247 shares of company stock worth $83,509,236. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

K has been the subject of several recent research reports. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a research note on Wednesday. They issued a “hold” rating on the stock. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Price Performance

K opened at $81.73 on Friday. The stock’s 50-day moving average price is $80.94 and its 200 day moving average price is $76.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.79. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.49 and a beta of 0.37. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. As a group, sell-side analysts expect that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

About Kellanova

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.