Westhampton Capital LLC Sells 2,060 Shares of Kellanova (NYSE:K)

Westhampton Capital LLC decreased its position in Kellanova (NYSE:K) by 13.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,746 shares of the company’s stock after selling 2,060 shares during the quarter. Westhampton Capital LLC’s holdings in Kellanova were worth $787,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of K. Diversified Trust Co boosted its holdings in Kellanova by 61.3% during the first quarter. Diversified Trust Co now owns 85,120 shares of the company’s stock valued at $4,877,000 after purchasing an additional 32,361 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Kellanova by 6.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 15,346 shares of the company’s stock valued at $879,000 after acquiring an additional 866 shares during the period. Toth Financial Advisory Corp raised its stake in Kellanova by 15.6% during the first quarter. Toth Financial Advisory Corp now owns 20,693 shares of the company’s stock worth $1,186,000 after acquiring an additional 2,799 shares in the last quarter. AMF Tjanstepension AB bought a new position in shares of Kellanova during the first quarter valued at $16,038,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Kellanova in the 1st quarter valued at $166,000. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

K has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. DA Davidson upped their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, TD Cowen increased their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.83.

Kellanova Stock Performance

Shares of K stock traded down $0.12 during trading on Tuesday, reaching $56.60. 509,682 shares of the company’s stock were exchanged, compared to its average volume of 2,916,541. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.69. The firm’s fifty day moving average price is $59.71 and its 200-day moving average price is $56.86. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $19.35 billion, a PE ratio of 21.24, a PEG ratio of 2.04 and a beta of 0.35.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating 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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned $1.10 EPS. Kellanova’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.62 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a dividend of $0.56 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.96%. Kellanova’s payout ratio is presently 83.90%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now directly owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the sale, the insider now owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 865,600 shares of company stock valued at $50,941,428. 1.80% of the stock is currently owned by company insiders.

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.