Sigma Planning Corp Has $803,000 Stake in Kellanova (NYSE:K)

Sigma Planning Corp cut its stake in Kellanova (NYSE:K - Free Report) by 57.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,367 shares of the company's stock after selling 19,230 shares during the quarter. Sigma Planning Corp's holdings in Kellanova were worth $803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Kellanova by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company's stock valued at $330,841,000 after purchasing an additional 200,870 shares during the period. Invesco Ltd. grew its position in shares of Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company's stock valued at $296,971,000 after purchasing an additional 1,132,485 shares during the period. Van ECK Associates Corp grew its position in shares of Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company's stock valued at $291,061,000 after purchasing an additional 1,051,922 shares during the period. Northern Trust Corp grew its position in shares of Kellanova by 8.7% in the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company's stock valued at $244,999,000 after purchasing an additional 328,658 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Kellanova by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company's stock valued at $147,273,000 after purchasing an additional 61,797 shares during the period. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

K traded up $0.61 during trading hours on Wednesday, reaching $58.75. The company's stock had a trading volume of 2,283,171 shares, compared to its average volume of 3,096,589. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company's 50-day moving average is $55.85 and its 200-day moving average is $54.19. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The firm has a market cap of $20.08 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.40.

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

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.81%. The ex-dividend date was Thursday, February 29th. Kellanova's payout ratio is 81.45%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the transaction, the insider now owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 933,600 shares of company stock worth $51,632,748 in the last 90 days. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup assumed coverage on Kellanova in a research report on Thursday, February 1st. They set a "neutral" rating and a $57.00 price target for the company. Wells Fargo & Company upped their price target on Kellanova from $56.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Friday, February 9th. DA Davidson assumed coverage on Kellanova in a research report on Friday, March 1st. They set a "buy" rating and a $67.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Finally, StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $62.27.

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.