Beaumont Asset Management L.L.C. Sells 2,484 Shares of Kellanova (NYSE:K)

Beaumont Asset Management L.L.C. decreased its stake in shares of Kellanova (NYSE:K) by 15.3% in the 4th quarter, Holdings Channel reports. The fund owned 13,706 shares of the company’s stock after selling 2,484 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Kellanova were worth $766,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in K. Oakworth Capital Inc. grew its position in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares in the last quarter. Baker Avenue Asset Management LP grew its position in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares in the last quarter. Blue Trust Inc. grew its position in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Kellanova by 339.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after purchasing an additional 928 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Kellanova by 95.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock valued at $70,000 after purchasing an additional 570 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $62.27.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the sale, the insider now directly owns 51,920,038 shares of the company’s stock, valued at approximately $2,998,901,394.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 933,600 shares of company stock valued at $51,632,748 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

Kellanova stock traded up $0.16 during midday trading on Tuesday, hitting $58.14. The company’s stock had a trading volume of 1,865,784 shares, compared to its average volume of 3,094,639. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The company has a 50-day moving average price of $55.68 and a two-hundred day moving average price of $54.10. The company has a market cap of $19.87 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.14 and a beta of 0.40.

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

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.