Moody National Bank Trust Division Reduces Position in Kellanova (NYSE:K)

Moody National Bank Trust Division decreased its holdings in Kellanova (NYSE:K) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,900 shares of the company’s stock after selling 1,332 shares during the period. Moody National Bank Trust Division’s holdings in Kellanova were worth $1,530,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. CVA Family Office LLC raised its stake in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the last quarter. Finally, Mather Group LLC. grew its position in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

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

Kellanova Stock Performance

NYSE:K opened at $81.39 on Tuesday. The company has a market cap of $28.05 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.58. The company has a fifty day simple moving average of $80.91 and a two-hundred day simple moving average of $76.00.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. As a group, equities analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared 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. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analyst Upgrades and Downgrades

K has been the topic of a number of research analyst reports. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, StockNews.com initiated coverage on shares of Kellanova in a research note on Tuesday, January 7th. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.