Williams Jones Wealth Management LLC. Sells 13,337 Shares of Kellanova (NYSE:K)

Williams Jones Wealth Management LLC. trimmed its stake in Kellanova (NYSE:K - Free Report) by 47.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,799 shares of the company's stock after selling 13,337 shares during the period. Williams Jones Wealth Management LLC.'s holdings in Kellanova were worth $1,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the fourth quarter valued at $27,000. BankPlus Trust Department bought a new stake in Kellanova in the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after acquiring an additional 173 shares during the period. Institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on K. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $79.41.

Kellanova Stock Up 0.1%

Shares of K opened at $82.50 on Wednesday. The company has a market capitalization of $28.62 billion, a P/E ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a one year low of $55.96 and a one year high of $83.22. The business's 50 day simple moving average is $82.37 and its 200-day simple moving average is $81.78.

Kellanova (NYSE:K - Get Free Report) last issued 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). The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio is 57.58%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the completion of the sale, the insider now owns 47,847,446 shares of the company's stock, valued at $3,956,983,784.20. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 1,260,413 shares of company stock worth $103,786,990 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

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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