Kellanova (NYSE:K) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of Kellanova (NYSE:K - Free Report) by 73.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 283,786 shares of the company's stock after selling 767,746 shares during the period. Bank of Montreal Can owned about 0.08% of Kellanova worth $22,978,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova during the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova during the fourth quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. lifted its stake in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after buying an additional 173 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 business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total value of $9,360,285.27. Following the sale, the insider now directly owns 48,420,361 shares in the company, valued at $3,955,459,290.09. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,672,407 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on K. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a research report on Sunday. They set a "hold" rating on the stock. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $77.96.

Kellanova Stock Performance

K traded down $0.14 during trading on Tuesday, reaching $82.31. The company's stock had a trading volume of 1,372,325 shares, compared to its average volume of 2,725,616. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company's fifty day moving average price is $82.35 and its 200-day moving average price is $81.48. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The company has a market capitalization of $28.41 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

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

Kellanova Dividend Announcement

The business also recently declared 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. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

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.