Advisory Services Network LLC Sells 5,001 Shares of Kellanova (NYSE:K)

Advisory Services Network LLC lessened its holdings in Kellanova (NYSE:K - Free Report) by 32.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,297 shares of the company's stock after selling 5,001 shares during the period. Advisory Services Network LLC's holdings in Kellanova were worth $834,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Kellanova in the fourth quarter valued at about $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova in the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova during the fourth quarter valued at $32,000. Finally, First Horizon Advisors Inc. increased its position in 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 buying an additional 173 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

Kellanova stock traded up $0.08 during midday trading on Friday, hitting $82.37. 1,933,260 shares of the company's stock were exchanged, compared to its average volume of 2,734,562. The company has a market cap of $28.43 billion, a P/E ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a 50-day moving average price of $82.35 and a two-hundred day moving average price of $81.52. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly 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%. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio (DPR) is currently 58.91%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the transaction, the insider now directly owns 48,305,778 shares in the company, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 1,260,413 shares of company stock valued at $103,672,407. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on K shares. StockNews.com began coverage on Kellanova in a research note on Sunday, April 13th. They set a "hold" rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $77.96.

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.