Culbertson A N & Co. Inc. Sells 1,799 Shares of Kellanova (NYSE:K)

Culbertson A N & Co. Inc. lessened its holdings in Kellanova (NYSE:K) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,372 shares of the company’s stock after selling 1,799 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Kellanova were worth $678,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. J2 Capital Management Inc acquired a new stake in shares of Kellanova during the 4th quarter valued at about $574,000. Aaron Wealth Advisors LLC lifted its stake in Kellanova by 2.7% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,413 shares of the company’s stock worth $600,000 after purchasing an additional 194 shares during the period. HB Wealth Management LLC boosted its holdings in Kellanova by 13.1% during the fourth quarter. HB Wealth Management LLC now owns 6,743 shares of the company’s stock valued at $546,000 after purchasing an additional 782 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Kellanova by 26.6% in the 4th quarter. Brooklyn Investment Group now owns 1,677 shares of the company’s stock valued at $136,000 after purchasing an additional 352 shares during the period. Finally, Merit Financial Group LLC raised its holdings in shares of Kellanova by 29.8% in the 4th quarter. Merit Financial Group LLC now owns 4,952 shares of the company’s stock worth $401,000 after buying an additional 1,138 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 in the company, valued at $3,995,805,654.75. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 916,664 shares of company stock valued at $74,232,597. 1.80% of the stock is currently owned by insiders.

Kellanova Price Performance

K opened at $81.73 on Tuesday. 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 capitalization of $28.17 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. The company’s 50 day simple moving average is $80.95 and its 200-day simple moving average is $76.68. Kellanova has a one year low of $52.46 and a one year high of $81.79.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for 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%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Sell-side analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.