Kellanova (NYSE:K) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lessened its stake in Kellanova (NYSE:K - Free Report) by 60.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,048 shares of the company's stock after selling 168,484 shares during the quarter. AMF Tjanstepension AB's holdings in Kellanova were worth $9,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in K. Westchester Capital Management LLC purchased a new position in shares of Kellanova in the third quarter valued at $107,795,000. Barclays PLC boosted 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 valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. State Street Corp boosted its holdings in shares of Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company's stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP raised its holdings in Kellanova by 63.8% in 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 buying an additional 632,510 shares during the period. Finally, Syquant Capital Sas purchased a new position in shares of Kellanova in the 4th quarter valued at $29,595,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Up 0.1 %

Shares of K traded up $0.06 during trading on Wednesday, reaching $82.29. The company's stock had a trading volume of 1,884,529 shares, compared to its average volume of 2,454,990. The company has a market cap of $28.41 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 4.21 and a beta of 0.31. 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 company has a fifty day moving average of $81.98 and a two-hundred day moving average of $81.16. Kellanova has a twelve month low of $52.46 and a twelve month high of $83.22.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova's dividend payout ratio (DPR) is 58.91%.

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 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,145,830 shares of company stock valued at $93,673,894 over the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

K has been the subject of several recent research reports. StockNews.com assumed coverage on Kellanova in a report on Wednesday. They issued a "hold" rating for the company. Royal Bank of Canada upgraded Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 target price for the company in a research note 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $77.96.

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.