Sagefield Capital LP Decreases Stock Holdings in Kellanova (NYSE:K)

Sagefield Capital LP trimmed its position in shares of Kellanova (NYSE:K - Free Report) by 22.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,700 shares of the company's stock after selling 3,700 shares during the period. Sagefield Capital LP's holdings in Kellanova were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department purchased a new stake in Kellanova in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. grew its stake in 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 purchasing an additional 173 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 that occurred on Friday, March 7th. The stock was sold at an average price of $82.55, for a total value of $9,458,826.65. Following the completion of the sale, the insider now owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $103,786,990. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

K has been the subject of a number of analyst reports. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $79.41.

Kellanova Stock Performance

Shares of NYSE K opened at $82.28 on Friday. The firm's 50-day moving average price is $82.37 and its 200-day moving average price is $81.75. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.55 billion, a PE 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.

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

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is 57.58%.

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.

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