Kellanova (NYSE:K) Holdings Cut by Cetera Investment Advisers

Cetera Investment Advisers decreased its stake in Kellanova (NYSE:K - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,998 shares of the company's stock after selling 24,141 shares during the quarter. Cetera Investment Advisers' holdings in Kellanova were worth $6,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock valued at $1,870,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC grew its stake in Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after buying an additional 140 shares during the last quarter. OneAscent Financial Services LLC grew its stake in 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 buying an additional 149 shares during the last quarter. SPC Financial Inc. grew its stake in Kellanova by 5.7% in the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock valued at $241,000 after buying an additional 160 shares during the last quarter. Finally, CENTRAL TRUST Co grew its stake in Kellanova by 0.7% in the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company's stock valued at $1,820,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares of the company's stock, valued at approximately $3,954,301,337. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,839,698 in the last ninety days. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus target price of $79.41.

Kellanova Price Performance

NYSE:K opened at $82.29 on Tuesday. The company has a 50-day moving average of $82.39 and a 200-day moving average of $81.72. The company has a market capitalization of $28.55 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 4.21 and a beta of 0.30. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Kellanova's revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 earnings per share. As a group, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's dividend payout ratio is currently 57.58%.

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.

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