Kellanova (NYSE:K) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Kellanova by 40.4%, owning 9,546 shares worth approximately $787,000 after selling 6,480 shares in the first quarter.
• Kellanova has recently declared a quarterly dividend of $0.58 per share, up from the previous dividend of $0.57, reflecting a 2.9% yield.
• Analysts currently hold a consensus rating of "Hold" for Kellanova, with a price target of $81.80.

Blair William & Co. IL lessened its position in shares of Kellanova (NYSE:K - Free Report) by 40.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,546 shares of the company's stock after selling 6,480 shares during the quarter. Blair William & Co. IL's holdings in Kellanova were worth $787,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Avalon Trust Co purchased a new position in Kellanova during the 1st quarter worth approximately $62,000. R Squared Ltd purchased a new position in shares of Kellanova in the 1st quarter valued at approximately $552,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Kellanova by 6.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 491,553 shares of the company's stock valued at $40,547,000 after purchasing an additional 27,900 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Kellanova by 4.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 78,623 shares of the company's stock valued at $6,486,000 after purchasing an additional 3,422 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Kellanova by 6.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,288 shares of the company's stock valued at $271,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $80.07, for a total transaction of $9,174,660.81. Following the completion of the transaction, the insider directly owned 45,326,620 shares of the company's stock, valued at approximately $3,629,302,463.40. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 1,260,413 shares of company stock worth $101,234,081 over the last ninety days. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research note on Thursday, May 29th. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.38.

Kellanova Price Performance

Shares of Kellanova stock traded up $0.03 during trading on Friday, reaching $80.11. The company's stock had a trading volume of 518,769 shares, compared to its average volume of 2,965,418. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 12-month low of $77.70 and a 12-month high of $83.22. The company has a market capitalization of $27.85 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 4.97 and a beta of 0.27. The business has a 50 day moving average price of $79.84 and a 200-day moving average price of $81.47.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm's quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This is a boost from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 2.9%. Kellanova's payout ratio is currently 59.84%.

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.