Peapack Gladstone Financial Corp Sells 314 Shares of Kellanova (NYSE:K)

Peapack Gladstone Financial Corp lowered its holdings in Kellanova (NYSE:K) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 81,315 shares of the company’s stock after selling 314 shares during the period. Peapack Gladstone Financial Corp’s holdings in Kellanova were worth $6,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova in the 4th quarter worth about $32,000. Finally, First Horizon Advisors Inc. raised its stake in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on K shares. StockNews.com began coverage on shares of Kellanova in a research report on Saturday. They set a “hold” rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Trading Down 0.4 %

Kellanova stock opened at $82.25 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The stock has a market cap of $28.39 billion, a P/E ratio of 21.25, a PEG ratio of 4.21 and a beta of 0.34. The firm’s fifty day moving average price is $82.31 and its 200-day moving average price is $81.40.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s payout ratio is presently 58.91%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 1,260,413 shares of company stock worth $103,473,032 over the last three months. 1.80% of the stock is owned by insiders.

Kellanova Company 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.