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

Sigma Planning Corp trimmed its holdings in Kellanova (NYSE:K) by 57.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank bought a new position in Kellanova in the third quarter worth $4,974,000. Raymond James & Associates boosted its stake in shares of Kellanova by 11.9% in the 4th quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock valued at $22,385,000 after purchasing an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC boosted its stake in shares of Kellanova by 25.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after purchasing an additional 9,434 shares in the last quarter. CX Institutional boosted its stake in shares of Kellanova by 52.9% in the 4th quarter. CX Institutional now owns 59,975 shares of the company’s stock valued at $3,353,000 after purchasing an additional 20,752 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. acquired a new stake in shares of Kellanova in the 3rd quarter valued at $3,248,000. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

Shares of NYSE:K opened at $58.15 on Wednesday. The stock has a market capitalization of $19.87 billion, a P/E ratio of 21.15, a P/E/G ratio of 2.22 and a beta of 0.40. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The business has a 50-day moving average price of $55.76 and a two-hundred day moving average price of $54.16.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion during 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 company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. Equities analysts predict that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.85%. Kellanova’s dividend payout ratio is currently 81.45%.

Analyst Ratings Changes

K has been the topic of several recent analyst reports. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Piper Sandler boosted their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. DA Davidson initiated coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Twelve research 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, the stock currently has a consensus rating of “Hold” and an average price target of $62.27.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $53.62, for a total value of $4,171,636.00. Following the completion of the sale, the insider now directly owns 52,698,038 shares of the company’s stock, valued at approximately $2,825,668,797.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 933,600 shares of company stock valued at $51,632,748. 1.80% of the stock is currently owned by insiders.

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.