Daymark Wealth Partners LLC Has $14.89 Million Stake in Kellanova (NYSE:K)

Daymark Wealth Partners LLC reduced its holdings in Kellanova (NYSE:K) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 183,939 shares of the company’s stock after selling 37,411 shares during the period. Daymark Wealth Partners LLC owned 0.05% of Kellanova worth $14,894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB grew its holdings in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. Toronto Dominion Bank lifted its holdings in Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of Kellanova in the fourth quarter valued at $384,000. Finally, Barclays PLC raised its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on K shares. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. StockNews.com started coverage on shares of Kellanova in a research report on Wednesday, January 15th. They set a “hold” rating on the stock. Finally, Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

K stock opened at $81.67 on Wednesday. The company has a 50 day simple moving average of $80.98 and a 200 day simple moving average of $77.04. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 2.50 and a beta of 0.37. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.82. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts anticipate that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Announces Dividend

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

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 1,031,247 shares of company stock valued at $83,592,882 in the last three months. 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.