CANADA LIFE ASSURANCE Co Decreases Stake in Kellanova (NYSE:K)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Kellanova (NYSE:K) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346,587 shares of the company’s stock after selling 20,900 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Kellanova worth $28,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the period. Bard Financial Services Inc. acquired a new stake in Kellanova during the 3rd quarter valued at approximately $272,000. Virtu Financial LLC purchased a new stake in shares of Kellanova in the 3rd quarter valued at $374,000. Sanctuary Advisors LLC raised its holdings in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after purchasing an additional 145 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Kellanova during the third quarter valued at $210,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the sale, the insider now directly owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,260,413 shares of company stock valued at $103,672,407 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on K shares. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a research report on Sunday, April 13th. They issued a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Price Performance

NYSE:K opened at $82.37 on Friday. The firm has a market cap of $28.43 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The stock has a 50 day moving average of $82.35 and a two-hundred day moving average of $81.52. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid 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 dividend payout ratio is presently 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.