Soltis Investment Advisors LLC Sells 39,133 Shares of Kellanova (NYSE:K)

Soltis Investment Advisors LLC lowered its position in Kellanova (NYSE:K - Free Report) by 84.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,994 shares of the company's stock after selling 39,133 shares during the period. Soltis Investment Advisors LLC's holdings in Kellanova were worth $391,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in shares of Kellanova by 14.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,910 shares of the company's stock valued at $442,000 after purchasing an additional 1,027 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Kellanova by 133.4% during the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company's stock worth $3,404,000 after purchasing an additional 34,800 shares during the last quarter. Bristlecone Advisors LLC raised its holdings in shares of Kellanova by 89.2% during the fourth quarter. Bristlecone Advisors LLC now owns 37,688 shares of the company's stock worth $2,107,000 after purchasing an additional 17,767 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Kellanova by 18.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 39,207 shares of the company's stock valued at $2,192,000 after buying an additional 6,147 shares in the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new position in Kellanova in the fourth quarter valued at $222,000. Institutional investors own 83.87% of the company's stock.

Kellanova Stock Performance

Shares of NYSE K traded down $0.85 during trading hours on Thursday, reaching $56.16. 2,798,537 shares of the stock were exchanged, compared to its average volume of 3,221,428. The firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 2.15 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The stock's fifty day simple moving average is $55.39 and its 200 day simple moving average is $54.11.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the business posted $0.94 EPS. Kellanova's revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova's dividend payout ratio is currently 81.45%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Friday, February 9th. StockNews.com cut Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Piper Sandler increased their price objective on Kellanova from $59.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Kellanova from $53.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average price target of $62.27.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the sale, the insider now owns 52,309,038 shares in the company, valued at $2,767,148,110.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 933,600 shares of company stock worth $51,259,308 in the last 90 days. 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.