Greatmark Investment Partners Inc. Has $1.07 Million Stock Holdings in Kellanova (NYSE:K)

Greatmark Investment Partners Inc. cut its holdings in Kellanova (NYSE:K) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,115 shares of the company’s stock after selling 585 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Kellanova were worth $1,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Oakworth Capital Inc. boosted its position in Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Baker Avenue Asset Management LP boosted its position in 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 during the last quarter. Blue Trust Inc. boosted its position in 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 during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in 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 during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in shares of Kellanova by 1,450.0% in the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after buying an additional 1,450 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Price Performance

NYSE:K traded up $0.35 during trading hours on Monday, hitting $58.08. The company’s stock had a trading volume of 1,287,202 shares, compared to its average volume of 3,075,381. The stock has a fifty day simple moving average of $55.96 and a 200-day simple moving average of $54.33. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a market capitalization of $19.85 billion, a P/E ratio of 21.09, a PEG ratio of 2.21 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

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

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $52.90, for a total value of $4,115,620.00. Following the transaction, the insider now directly owns 52,309,038 shares of the company’s stock, valued at approximately $2,767,148,110.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 855,800 shares of company stock valued at $47,378,644 over the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on K shares. Wells Fargo & Company increased their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. DA Davidson started coverage on Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Citigroup began coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective on the stock. Finally, Barclays increased their price objective on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.27.

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.