Kellanova (NYSE:K) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its position in shares of Kellanova (NYSE:K) by 36.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,089 shares of the company’s stock after selling 85,237 shares during the quarter. Prudential Financial Inc.’s holdings in Kellanova were worth $11,991,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Westchester Capital Management LLC acquired a new stake in shares of Kellanova during the third quarter worth about $107,795,000. Barclays PLC raised its stake in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. State Street Corp raised its stake in Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after acquiring an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP lifted its position in Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after acquiring an additional 632,510 shares during the period. Finally, Cibc World Markets Corp grew its stake in shares of Kellanova by 538.6% in the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after purchasing an additional 493,976 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,374,996 shares of company stock worth $112,737,068 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Kellanova in a report on Friday. 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 research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Down 0.0 %

Shares of NYSE K opened at $82.43 on Friday. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The firm has a 50-day moving average price of $82.24 and a 200 day moving average price of $81.32. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

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

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is 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.