Clear Harbor Asset Management LLC Sells 180 Shares of Kellanova (NYSE:K)

Clear Harbor Asset Management LLC lessened its stake in Kellanova (NYSE:K) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,259 shares of the company’s stock after selling 180 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Kellanova were worth $1,155,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Investors Research Corp boosted its holdings in Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after buying an additional 125 shares during the period. Assetmark Inc. lifted its position in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. S.A. Mason LLC grew its position in shares of Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

K opened at $81.67 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $28.15 billion, a P/E ratio of 28.06, a PEG ratio of 2.50 and a beta of 0.37. The stock has a 50-day moving average price of $80.97 and a 200-day moving average price of $76.86. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.82.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Equities analysts predict that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.79%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Finally, StockNews.com started coverage on shares of Kellanova in a research note on Wednesday, January 15th. They issued a “hold” rating on the stock. Fifteen analysts have rated the stock with a hold rating and one has 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 target price of $76.35.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total value of $9,280,077.17. Following the transaction, the insider now directly owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 1,031,247 shares of company stock worth $83,592,882 over the last three months. Company insiders own 1.80% of the company’s stock.

About Kellanova

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.