Romano Brothers AND Company Sells 350 Shares of Kellanova (NYSE:K)

Romano Brothers AND Company cut its holdings in Kellanova (NYSE:K) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,379 shares of the company’s stock after selling 350 shares during the quarter. Romano Brothers AND Company’s holdings in Kellanova were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Naples Global Advisors LLC grew its stake in shares of Kellanova by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after purchasing an additional 200 shares during the last quarter. Financial Advisors Network Inc. boosted its position in Kellanova by 4.2% during the 4th quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after acquiring an additional 204 shares in the last quarter. Blue Trust Inc. boosted its position in Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after acquiring an additional 206 shares in the last quarter. Czech National Bank boosted its position in Kellanova by 0.5% during the 1st quarter. Czech National Bank now owns 46,405 shares of the company’s stock valued at $2,659,000 after acquiring an additional 213 shares in the last quarter. Finally, Kennedy Investment Group boosted its position in Kellanova by 1.2% during the 4th quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after acquiring an additional 218 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the sale, the insider now owns 51,219,838 shares of the company’s stock, valued at approximately $2,952,311,462.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the sale, the insider now owns 51,219,838 shares of the company’s stock, valued at approximately $2,952,311,462.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 865,600 shares of company stock valued at $50,941,428. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE K remained flat at $57.68 during mid-day trading on Friday. 2,377,344 shares of the company were exchanged, compared to its average volume of 2,110,383. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The firm has a market cap of $19.72 billion, a PE ratio of 21.60, a PEG ratio of 2.05 and a beta of 0.35. The business’s 50-day moving average price is $59.71 and its two-hundred day moving average price is $56.85. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned $1.10 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts expect that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen lifted their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. DA Davidson lifted their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Barclays lifted their target price on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and an average price target of $61.83.

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.