Cornell Pochily Investment Advisors Inc. Cuts Stake in Kellanova $K

Cornell Pochily Investment Advisors Inc. decreased its holdings in Kellanova (NYSE:K - Free Report) by 42.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,596 shares of the company's stock after selling 3,438 shares during the period. Cornell Pochily Investment Advisors Inc.'s holdings in Kellanova were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Grove Bank & Trust purchased a new stake in Kellanova during the 1st quarter valued at $25,000. Financial Network Wealth Advisors LLC purchased a new stake in Kellanova during the 1st quarter valued at $25,000. MorganRosel Wealth Management LLC purchased a new stake in Kellanova during the 1st quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new stake in Kellanova during the 1st quarter valued at $49,000. Finally, Dagco Inc. purchased a new stake in Kellanova during the 1st quarter valued at $49,000. 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 114,599 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 802,097 shares of company stock worth $63,999,316 in the last three months. Insiders own 1.80% of the company's stock.

Kellanova Stock Up 0.2%

Shares of Kellanova stock opened at $82.65 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The stock has a market capitalization of $28.73 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 5.13 and a beta of 0.24. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.22. The company has a 50-day simple moving average of $79.60 and a two-hundred day simple moving average of $80.78.

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

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.8%. This is a positive change from Kellanova's previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, September 2nd. Kellanova's dividend payout ratio (DPR) is presently 60.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on K shares. Wall Street Zen cut shares of Kellanova from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 target price for the company. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $83.38.

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.

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