Fernwood Investment Management LLC Sells 2,850 Shares of Kellanova (NYSE:K)

Fernwood Investment Management LLC lowered its holdings in Kellanova (NYSE:K) by 18.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,335 shares of the company’s stock after selling 2,850 shares during the period. Fernwood Investment Management LLC’s holdings in Kellanova were worth $996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. grew its position in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in shares of Kellanova in the second quarter worth approximately $29,000. CVA Family Office LLC increased its stake in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the period. BNP Paribas purchased a new stake in Kellanova during the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on K. JPMorgan Chase & Co. increased their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $74.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the sale, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,227,864 shares of company stock valued at $98,438,243 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock traded down $0.04 on Friday, hitting $80.61. 3,773,971 shares of the company’s stock were exchanged, compared to its average volume of 1,677,725. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.48 and a current ratio of 0.77. The stock has a market capitalization of $27.78 billion, a PE ratio of 27.70, a PEG ratio of 2.58 and a beta of 0.39. Kellanova has a 1 year low of $50.81 and a 1 year high of $81.26. The company has a 50-day simple moving average of $80.63 and a 200-day simple moving average of $68.27.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. As a group, equities analysts anticipate that Kellanova will post 3.71 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s payout ratio is 78.35%.

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.