Quarry LP Sells 27,997 Shares of Kellanova (NYSE:K)

Quarry LP trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 96.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,078 shares of the company's stock after selling 27,997 shares during the period. Quarry LP's holdings in Kellanova were worth $87,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Independent Advisor Alliance lifted its holdings in Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after purchasing an additional 1,019 shares during the last quarter. Aviva PLC raised its stake in shares of Kellanova by 2.6% in the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after acquiring an additional 13,531 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of Kellanova in the 4th quarter worth approximately $384,000. FNY Investment Advisers LLC bought a new stake in Kellanova during the 4th quarter worth approximately $2,490,000. Finally, Barclays PLC increased its holdings in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on K. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $79.41.

Kellanova Stock Down 0.2 %

Shares of NYSE K traded down $0.13 during mid-day trading on Friday, reaching $82.67. 3,879,006 shares of the company's stock were exchanged, compared to its average volume of 2,690,849. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.54 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 4.21 and a beta of 0.34. The business has a fifty day simple moving average of $82.40 and a 200 day simple moving average of $81.65.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. 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 firm posted $1.01 EPS. The business's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio is 58.91%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction 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. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock worth $103,801,886 over the last three months. Corporate insiders own 1.80% of the company's stock.

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.