Trust Point Inc. Sells 4,567 Shares of Kellanova (NYSE:K)

Trust Point Inc. trimmed its stake in shares of Kellanova (NYSE:K - Free Report) by 59.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,085 shares of the company's stock after selling 4,567 shares during the quarter. Trust Point Inc.'s holdings in Kellanova were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in K. Oregon Public Employees Retirement Fund lifted its stake in Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock valued at $1,870,000 after buying an additional 130 shares during the period. OneAscent Financial Services LLC increased its stake in shares of Kellanova by 4.7% in the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock valued at $268,000 after acquiring an additional 149 shares in the last quarter. SPC Financial Inc. lifted its position in shares of Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock valued at $241,000 after acquiring an additional 160 shares during the period. First Horizon Advisors Inc. boosted its stake in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after acquiring an additional 173 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Kellanova by 2.8% in the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock worth $568,000 after purchasing an additional 186 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, June 16th. The stock was sold at an average price of $80.19, for a total transaction of $9,188,410.77. Following the sale, the insider now directly owns 46,243,284 shares in the company, valued at $3,708,248,943.96. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,374,996 shares of company stock worth $112,861,963 in the last 90 days. Insiders own 1.80% of the company's stock.

Kellanova Stock Down 0.1%

Shares of NYSE:K opened at $80.26 on Wednesday. The business's 50 day moving average is $82.15 and its 200 day moving average is $81.89. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The stock has a market cap of $27.84 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 4.21 and a beta of 0.30. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25.

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 analysts' consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. Kellanova's revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.84%. Kellanova's dividend payout ratio is currently 57.58%.

Wall Street Analysts Forecast Growth

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

Kellanova 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.

Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellanova (NYSE:K - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.