Clark & Stuart Inc Sells 25,430 Shares of Kellanova (NYSE:K)

Clark & Stuart Inc reduced its holdings in shares of Kellanova (NYSE:K - Free Report) by 61.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,115 shares of the company's stock after selling 25,430 shares during the quarter. Kellanova makes up about 1.0% of Clark & Stuart Inc's holdings, making the stock its 28th largest position. Clark & Stuart Inc's holdings in Kellanova were worth $1,329,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of K. Grove Bank & Trust purchased a new stake in Kellanova in the first quarter worth $25,000. BankPlus Trust Department purchased a new stake in Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova in the fourth quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova in the fourth quarter worth $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 currently owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the completion of the sale, the insider now owns 47,274,531 shares of the company's stock, valued at $3,877,929,777.93. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,430,637 over the last 90 days. Insiders own 1.80% of the company's stock.

Kellanova Price Performance

Kellanova stock opened at $78.91 on Friday. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The business has a 50-day simple moving average of $82.02 and a 200 day simple moving average of $81.86. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The stock has a market cap of $27.38 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 4.13 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The business had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Kellanova's quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.89%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank Of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Kellanova has a consensus rating of "Hold" and a consensus price target of $79.75.

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.

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