Brookstone Capital Management Lowers Position in Kellanova (NYSE:K)

Brookstone Capital Management cut its stake in Kellanova (NYSE:K) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,952 shares of the company’s stock after selling 22,440 shares during the quarter. Brookstone Capital Management’s holdings in Kellanova were worth $11,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of K. Choreo LLC grew its holdings in shares of Kellanova by 101.2% in the second quarter. Choreo LLC now owns 7,966 shares of the company’s stock valued at $453,000 after acquiring an additional 4,007 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Kellanova by 14.7% in the second quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock valued at $2,128,000 after acquiring an additional 4,737 shares in the last quarter. Meeder Advisory Services Inc. bought a new position in shares of Kellanova in the second quarter valued at approximately $222,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Kellanova by 37.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 75,075 shares of the company’s stock valued at $4,330,000 after acquiring an additional 20,315 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Kellanova by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company’s stock valued at $12,175,000 after acquiring an additional 4,566 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Down 0.1 %

Shares of K stock opened at $81.39 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.58. The company has a market capitalization of $28.05 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The business’s fifty day moving average is $80.91 and its 200 day moving average is $76.00.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 company 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 firm’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 916,664 shares of company stock worth $74,179,888. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on K. StockNews.com began coverage on Kellanova in a report on Tuesday, January 7th. They set a “hold” rating for the company. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.35.

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.