Brookstone Capital Management Sells 22,440 Shares of Kellanova (NYSE:K)

Brookstone Capital Management lessened its holdings in shares of Kellanova (NYSE:K - Free Report) by 13.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 144,952 shares of the company's stock after selling 22,440 shares during the period. Brookstone Capital Management's holdings in Kellanova were worth $11,737,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. CVA Family Office LLC lifted its position in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after acquiring an additional 200 shares during the period. MCF Advisors LLC boosted its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock valued at $44,000 after acquiring an additional 158 shares during the period. Finally, Mather Group LLC. raised its position in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company's stock worth $50,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares of the company's stock, valued at approximately $4,031,432,102.72. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 916,664 shares of company stock worth $74,179,888. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on K. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Finally, StockNews.com initiated coverage on Kellanova in a report on Tuesday, January 7th. They issued a "hold" rating on the stock. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $76.35.

Kellanova Trading Down 0.1 %

Shares of K stock traded down $0.11 during trading hours on Tuesday, reaching $81.40. The company had a trading volume of 2,302,142 shares, compared to its average volume of 2,048,818. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.58. The company has a 50 day moving average of $80.91 and a 200 day moving average of $76.00. The firm has a market cap of $28.06 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business posted $1.03 earnings per share. The business's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. Kellanova's payout ratio is 78.35%.

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.