Bank of New York Mellon Corp Sells 115,328 Shares of Kellanova (NYSE:K)

Bank of New York Mellon Corp decreased its holdings in Kellanova (NYSE:K - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,615,188 shares of the company's stock after selling 115,328 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Kellanova worth $130,782,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company's stock valued at $14,435,000 after buying an additional 8,686 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock valued at $30,169,000 after acquiring an additional 24,067 shares in the last quarter. Wedmont Private Capital acquired a new position in shares of Kellanova in the fourth quarter valued at about $384,000. Barclays PLC increased its position in 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 acquiring an additional 1,033,383 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Kellanova in the 3rd quarter worth about $4,211,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,145,830 shares of company stock valued at $93,461,916 over the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

K stock traded down $0.19 during trading on Tuesday, reaching $82.42. 1,485,645 shares of the company were exchanged, compared to its average volume of 2,379,907. Kellanova has a twelve month low of $52.46 and a twelve month high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.37. The company has a 50-day moving average of $81.81 and a two-hundred day moving average of $81.08.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada raised Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price objective for the company in a report on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a research note on Tuesday. They issued a "hold" rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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.