Envestnet Portfolio Solutions Inc. Sells 4,404 Shares of Kellanova (NYSE:K)

Envestnet Portfolio Solutions Inc. lowered its position in shares of Kellanova (NYSE:K - Free Report) by 53.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,822 shares of the company's stock after selling 4,404 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Kellanova were worth $315,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Kellanova by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kellanova by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after purchasing an additional 158,560 shares in the last quarter. Pentwater Capital Management LP boosted its position in shares of Kellanova by 8.5% during the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after purchasing an additional 450,700 shares in the last quarter. Invesco Ltd. boosted its position in shares of Kellanova by 2.7% during the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after purchasing an additional 111,396 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Kellanova by 15.7% during the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock worth $315,613,000 after purchasing an additional 530,132 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

Kellanova Trading Up 0.3%

K opened at $79.08 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The firm has a market capitalization of $27.43 billion, a PE ratio of 19.97, a P/E/G ratio of 4.14 and a beta of 0.30. The company's 50-day moving average is $81.57 and its 200 day moving average is $81.78.

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

Kellanova Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.88%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $82.41, for a total value of $9,442,785.03. Following the transaction, the insider now owns 47,159,948 shares in the company, valued at approximately $3,886,451,314.68. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,260,413 shares of company stock valued at $102,970,013. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price objective on the stock in a research report on Thursday, May 29th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $79.75.

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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