West Branch Capital LLC Sells 200 Shares of Kellanova (NYSE:K)

by · The Cerbat Gem

West Branch Capital LLC lessened its holdings in Kellanova (NYSE:K – Free Report) by 21.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 751 shares of the company’s stock after selling 200 shares during the quarter. West Branch Capital LLC’s holdings in Kellanova were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of K. D. E. Shaw & Co. Inc. grew its position in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after acquiring an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new position in Kellanova during the second quarter valued at $88,065,000. Westchester Capital Management LLC purchased a new stake in Kellanova in the third quarter worth $107,795,000. Point72 Asset Management L.P. bought a new stake in shares of Kellanova in the second quarter valued at $63,585,000. Finally, Barclays PLC lifted its position in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Check Out Our Latest Research Report on Kellanova

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the completion of the sale, the insider now directly owns 48,420,361 shares in the company, valued at $3,955,459,290.09. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 1,031,247 shares of company stock valued at $83,592,882. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $81.67 on Wednesday. The firm has a 50 day simple moving average of $80.97 and a two-hundred day simple moving average of $76.86. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market cap of $28.15 billion, a PE ratio of 28.06, a P/E/G ratio of 2.50 and a beta of 0.37. Kellanova has a one year low of $52.46 and a one year high of $81.82.

Kellanova (NYSE:K – Get Free Report) last released its quarterly earnings results 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. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict 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. Stockholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Kellanova Company Profile

(Free Report)

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.

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