Sigma Planning Corp Sells 6,142 Shares of Kellanova (NYSE:K)

Sigma Planning Corp lowered its stake in Kellanova (NYSE:K - Free Report) by 24.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,384 shares of the company's stock after selling 6,142 shares during the quarter. Sigma Planning Corp's holdings in Kellanova were worth $1,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in K. Financial Counselors Inc. bought a new stake in Kellanova in the first quarter valued at approximately $522,000. Aviva PLC increased its holdings in shares of Kellanova by 2.6% during the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after acquiring an additional 13,531 shares during the last quarter. IFM Investors Pty Ltd raised its stake in Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company's stock valued at $4,620,000 after acquiring an additional 5,957 shares during the period. Retirement Guys Formula LLC acquired a new stake in Kellanova during the 1st quarter valued at $934,000. Finally, Decagon Asset Management LLP bought a new position in Kellanova during the fourth quarter worth $10,125,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

K has been the subject of a number of research reports. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.75.

Kellanova Price Performance

Shares of K stock traded up $0.24 on Thursday, hitting $79.99. 1,391,237 shares of the company's stock were exchanged, compared to its average volume of 3,028,842. The company has a 50 day moving average of $80.81 and a 200 day moving average of $81.68. The stock has a market cap of $27.75 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 4.22 and a beta of 0.28. 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 12 month low of $56.37 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share 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 firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business earned $1.01 EPS. The company's revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.85%. Kellanova's payout ratio is 57.58%.

Insider Transactions 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 that occurred on Monday, July 7th. The shares were sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the completion of the transaction, the insider owned 45,899,535 shares in the company, valued at approximately $3,657,274,948.80. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 1,374,996 shares of company stock worth $111,466,342. 1.80% of the stock is owned by company insiders.

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.