Intech Investment Management LLC Has $8.48 Million Stake in Kellanova (NYSE:K)

Intech Investment Management LLC cut its holdings in Kellanova (NYSE:K) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 104,720 shares of the company’s stock after selling 1,726 shares during the quarter. Intech Investment Management LLC’s holdings in Kellanova were worth $8,479,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Investors Research Corp lifted its position in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after purchasing an additional 130 shares during the last quarter. Assetmark Inc. raised its position in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the period. Quent Capital LLC raised its holdings in Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after purchasing an additional 140 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in shares of Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares during the period. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com started coverage on Kellanova in a report on Wednesday, March 12th. They set a “hold” rating on the stock. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Down 0.0 %

Kellanova stock opened at $82.36 on Wednesday. The company has a fifty day simple moving average of $82.09 and a 200 day simple moving average of $81.22. 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 has a 1-year low of $54.47 and a 1-year high of $83.22. The company 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 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share 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%. Research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is owned by 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.