D.A. Davidson & CO. Trims Stake in Kellanova (NYSE:K)

D.A. Davidson & CO. lessened its holdings in shares of Kellanova (NYSE:K - Free Report) by 18.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,366 shares of the company's stock after selling 4,089 shares during the quarter. D.A. Davidson & CO.'s holdings in Kellanova were worth $1,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Assetmark Inc. boosted its holdings in shares of Kellanova by 613.8% in the 4th quarter. Assetmark Inc. now owns 4,504 shares of the company's stock worth $365,000 after purchasing an additional 3,873 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Kellanova during the 4th quarter worth approximately $9,919,000. Raymond James Financial Inc. bought a new stake in Kellanova during the 4th quarter valued at $21,282,000. Candriam S.C.A. raised its position in Kellanova by 15.0% during the 4th quarter. Candriam S.C.A. now owns 31,508 shares of the company's stock valued at $2,551,000 after purchasing an additional 4,117 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in Kellanova during the 4th quarter valued at $219,000. Institutional investors own 83.87% of the company's stock.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $79.37, for a total transaction of $9,094,452.71. Following the completion of the sale, the insider directly owned 46,014,118 shares of the company's stock, valued at $3,652,140,545.66. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,374,996 shares of company stock valued at $111,795,196 in the last ninety days. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price objective on the stock in a report on Thursday, May 29th. Finally, Royal Bank Of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $79.75.

Kellanova Trading Down 0.3%

K stock traded down $0.27 during midday trading on Tuesday, hitting $79.39. 2,822,384 shares of the company's stock were exchanged, compared to its average volume of 3,095,856. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The business has a 50-day simple moving average of $81.24 and a two-hundred day simple moving average of $81.76. The stock has a market capitalization of $27.54 billion, a PE ratio of 20.05, a P/E/G ratio of 4.24 and a beta of 0.28. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25.

Kellanova (NYSE:K - Get Free Report) last released its quarterly 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 firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The company's quarterly revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.87%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

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.