Mine & Arao Wealth Creation & Management LLC. Sells 528 Shares of Kellanova (NYSE:K)

Mine & Arao Wealth Creation & Management LLC. reduced its position in shares of Kellanova (NYSE:K) by 12.5% during the fourth quarter, Holdings Channel reports. The firm owned 3,689 shares of the company’s stock after selling 528 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Kellanova were worth $206,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Oakworth Capital Inc. increased its holdings in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Baker Avenue Asset Management LP increased its holdings in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the last quarter. Blue Trust Inc. increased its holdings in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after buying an additional 928 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd increased its stake in shares of Kellanova by 1,450.0% in the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock worth $92,000 after purchasing an additional 1,450 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

K has been the subject of several recent research reports. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Barclays lifted their target price on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Finally, Stifel Nicolaus lifted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.27.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the transaction, the insider now directly owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 933,600 shares of company stock worth $51,891,044 over the last ninety days. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K traded down $0.74 on Wednesday, reaching $57.12. The company had a trading volume of 3,199,176 shares, compared to its average volume of 3,116,673. The business has a 50 day simple moving average of $56.05 and a 200 day simple moving average of $54.45. The company has a market cap of $19.52 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.23 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30.

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

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Monday, June 3rd. Kellanova’s payout ratio is currently 81.45%.

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.