Amundi lowered its stake in shares of Kellanova (NYSE:K - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,632,931 shares of the company's stock after selling 212,132 shares during the period. Amundi owned about 0.76% of Kellanova worth $214,689,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova in the 4th quarter valued at about $32,000. First Horizon Advisors Inc. increased its stake in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. purchased a new position in shares of Kellanova in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 83.87% of the company's stock.
Insider Activity at Kellanova
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 transaction, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,145,830 shares of company stock worth $93,673,894. Insiders own 1.80% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on K. StockNews.com began coverage on Kellanova in a research note 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 price target 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $77.96.
Get Our Latest Report on K
Kellanova Price Performance
Shares of Kellanova stock traded up $0.06 on Wednesday, hitting $82.29. 1,884,529 shares of the company were exchanged, compared to its average volume of 2,454,990. The stock has a market capitalization of $28.41 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a 50-day moving average price of $82.00 and a 200 day moving average price of $81.17. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22. 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 - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.
Kellanova Dividend Announcement
The firm 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 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova's dividend payout ratio is presently 58.91%.
About Kellanova
(
Free Report)
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.
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