Eukles Asset Management Sells 1,163 Shares of Kellanova (NYSE:K)

Eukles Asset Management reduced its stake in Kellanova (NYSE:K) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,627 shares of the company’s stock after selling 1,163 shares during the quarter. Eukles Asset Management’s holdings in Kellanova were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in K. Oakworth Capital Inc. lifted its position in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after acquiring an additional 393 shares in the last quarter. Norwood Financial Corp increased its stake in shares of Kellanova by 81.8% in the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Cowa LLC purchased a new stake in shares of Kellanova in the 1st quarter worth $33,000. Finally, Blue Trust Inc. increased its stake in shares of Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

K has been the subject of a number of analyst reports. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson initiated coverage on Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. JPMorgan Chase & Co. increased their price target on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Wells Fargo & Company increased their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Finally, Citigroup initiated coverage on Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.27.

Kellanova Stock Up 1.8 %

K stock traded up $1.03 during trading on Friday, hitting $57.57. 625,660 shares of the company’s stock traded hands, compared to its average volume of 3,108,809. The firm has a market capitalization of $19.68 billion, a P/E ratio of 20.56, a PEG ratio of 2.10 and a beta of 0.40. The business has a fifty day simple moving average of $55.54 and a two-hundred day simple moving average of $54.00. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30.

Kellanova (NYSE:K) last announced its earnings results 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 net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the firm earned $0.94 earnings per share. Kellanova’s revenue was up .3% compared to the same quarter last year. Sell-side analysts anticipate that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.89%. Kellanova’s dividend payout ratio is presently 81.45%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $57.46, for a total transaction of $4,470,388.00. Following the completion of the transaction, the insider now directly owns 52,075,638 shares in the company, valued at $2,992,266,159.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 933,600 shares of company stock worth $51,308,322 over the last three months. Company 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.