Ledyard National Bank Lowers Stake in Kellanova (NYSE:K)

Ledyard National Bank lowered its position in shares of Kellanova (NYSE:K) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,013 shares of the company’s stock after selling 200 shares during the period. Ledyard National Bank’s holdings in Kellanova were worth $230,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Bfsg LLC grew its holdings in shares of Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. BNP Paribas acquired a new stake in Kellanova during the 1st quarter worth $30,000. Motco increased its holdings in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. raised its stake in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after acquiring an additional 428 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $57.76, for a total value of $4,493,728.00. Following the completion of the transaction, the insider now owns 51,920,038 shares of the company’s stock, valued at $2,998,901,394.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,600 shares of company stock worth $50,904,084. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Shares of NYSE K traded down $0.96 during midday trading on Friday, reaching $57.87. 725,622 shares of the company were exchanged, compared to its average volume of 2,809,733. The stock has a fifty day simple moving average of $59.03 and a 200 day simple moving average of $57.06. Kellanova has a 1 year low of $47.63 and a 1 year high of $68.23. The stock has a market cap of $19.78 billion, a P/E ratio of 22.03, a PEG ratio of 2.09 and a beta of 0.34. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm posted $1.10 EPS. Kellanova’s quarterly revenue was down 4.2% on a year-over-year basis. On average, research analysts forecast that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio is presently 83.90%.

Analysts Set New Price Targets

Several research firms recently issued reports on K. TD Cowen boosted their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Bank of America decreased their price target on Kellanova from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays increased their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Finally, DA Davidson boosted their target price on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.85.

Kellanova Company 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.