Beaumont Asset Management L.L.C. Lowers Stock Holdings in Kellanova (NYSE:K)

Beaumont Asset Management L.L.C. lowered its stake in shares of Kellanova (NYSE:K) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,706 shares of the company’s stock after selling 2,484 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Kellanova were worth $766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. boosted its holdings in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after acquiring an additional 341 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after acquiring an additional 928 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Kellanova by 95.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock worth $70,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.3 %

NYSE:K traded up $0.16 during mid-day trading on Tuesday, reaching $58.14. The stock had a trading volume of 1,865,784 shares, compared to its average volume of 3,094,639. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $55.68 and its two-hundred day simple moving average is $54.10. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The company has a market capitalization of $19.87 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the company posted $0.94 earnings per share. Kellanova’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.85%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Analyst Upgrades and Downgrades

K has been the subject of several research reports. DA Davidson initiated coverage on Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective for the company. Wells Fargo & Company boosted their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. Piper Sandler upped their price objective on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, Barclays upped their price objective on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $62.27.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the sale, the insider now owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 933,600 shares of company stock valued at $51,632,748. 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.