Kellanova (NYSE:K) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 70.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 357,160 shares of the company's stock after selling 860,352 shares during the period. Brown Advisory Inc. owned approximately 0.10% of Kellanova worth $28,919,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after buying an additional 140 shares during the period. OneAscent Financial Services LLC lifted its stake in Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after acquiring an additional 149 shares in the last quarter. SPC Financial Inc. boosted its holdings in Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock valued at $241,000 after acquiring an additional 160 shares during the period. Finally, CENTRAL TRUST Co grew its position in Kellanova by 0.7% in the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company's stock valued at $1,820,000 after acquiring an additional 162 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

K has been the subject of several recent research reports. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $79.41.

Kellanova Stock Down 0.0 %

K stock traded down $0.04 during midday trading on Friday, reaching $82.50. 2,183,976 shares of the company were exchanged, compared to its average volume of 2,678,257. The company has a market cap of $28.48 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The stock's 50-day simple moving average is $82.39 and its 200 day simple moving average is $81.69.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Kellanova's revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. On average, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 1,374,996 shares of company stock worth $113,261,858. 1.80% of the stock is owned by insiders.

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.