Beutel Goodman & Co Ltd. Has $113.21 Million Position in Kellanova (NYSE:K)

Beutel Goodman & Co Ltd. cut its position in shares of Kellanova (NYSE:K - Free Report) by 77.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,398,212 shares of the company's stock after selling 4,934,328 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.41% of Kellanova worth $113,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in Kellanova by 7.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company's stock valued at $1,750,000 after purchasing an additional 1,432 shares during the last quarter. Pathstone Holdings LLC grew its holdings in Kellanova by 11.6% during the third quarter. Pathstone Holdings LLC now owns 17,280 shares of the company's stock worth $1,395,000 after acquiring an additional 1,791 shares during the period. Quantbot Technologies LP bought a new stake in shares of Kellanova in the 3rd quarter worth approximately $378,000. Townsquare Capital LLC acquired a new stake in shares of Kellanova during the 3rd quarter valued at $414,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Kellanova in the 3rd quarter valued at $4,843,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of K traded down $0.07 on Wednesday, reaching $82.43. 850,090 shares of the stock traded hands, compared to its average volume of 2,668,455. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. 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 stock's 50-day moving average price is $82.27 and its 200-day moving average price is $81.37. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released 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%. Equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was 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 presently 58.91%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research report on Friday, March 28th. They set a "hold" rating on the stock. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Kellanova presently has an average rating of "Hold" and a consensus price target of $77.96.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the transaction, the insider now directly owns 47,389,114 shares in the company, valued at approximately $3,906,758,558.16. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,473,032 over the last ninety days. 1.80% of the stock is owned by insiders.

About Kellanova

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.