Nisa Investment Advisors LLC Trims Stake in Kellanova (NYSE:K)

Nisa Investment Advisors LLC trimmed its stake in Kellanova (NYSE:K - Free Report) by 14.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,616 shares of the company's stock after selling 4,178 shares during the period. Nisa Investment Advisors LLC's holdings in Kellanova were worth $2,113,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Grove Bank & Trust purchased a new stake in Kellanova in the 1st quarter worth $25,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Kellanova during the first quarter worth about $27,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Accredited Wealth Management LLC bought a new stake in Kellanova during the 4th quarter valued at approximately $36,000. Finally, Twin Tree Management LP purchased a new position in Kellanova in the 4th quarter worth approximately $39,000. 83.87% of the stock is owned by institutional investors.

Kellanova Trading Up 0.3%

Shares of NYSE:K traded up $0.23 during trading on Monday, reaching $79.67. The company's stock had a trading volume of 2,822,694 shares, compared to its average volume of 3,088,241. The stock has a market capitalization of $27.64 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 4.21 and a beta of 0.28. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. The firm's 50 day simple moving average is $80.98 and its two-hundred day simple moving average is $81.72.

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

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup upgraded 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. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $79.75.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $79.68, for a total value of $9,129,973.44. Following the completion of the sale, the insider owned 45,899,535 shares of the company's stock, valued at $3,657,274,948.80. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 1,374,996 shares of company stock worth $111,466,342. 1.80% of the stock is currently owned by insiders.

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.