Kellanova (NYSE:K) Position Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its holdings in Kellanova (NYSE:K) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,002 shares of the company’s stock after selling 5,849 shares during the quarter. Handelsbanken Fonder AB’s holdings in Kellanova were worth $10,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in K. State Street Corp grew its position in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares during the last quarter. Barclays PLC grew its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Kellanova by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after purchasing an additional 35,268 shares during the period. Finally, Ilex Capital Partners UK LLP lifted its holdings in shares of Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after purchasing an additional 632,510 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. StockNews.com began coverage on shares of Kellanova in a research report on Sunday, February 16th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. Thirteen 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 an average target price of $77.96.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the transaction, the insider now directly owns 49,107,859 shares of the company’s stock, valued at $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Up 0.2 %

Shares of NYSE:K opened at $82.63 on Friday. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.72. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.48 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The firm has a fifty day moving average of $81.55 and a two-hundred day moving average of $80.65.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. On average, equities analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s dividend payout ratio is currently 58.91%.

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.