Bridgewater Associates LP Sells 143,022 Shares of Kellanova (NYSE:K)

Bridgewater Associates LP trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 68.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,261 shares of the company's stock after selling 143,022 shares during the quarter. Bridgewater Associates LP's holdings in Kellanova were worth $5,284,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after buying an additional 281,137 shares during the period. Geode Capital Management LLC lifted its position in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares during the last quarter. Invesco Ltd. boosted its stake in Kellanova by 2.7% during the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after purchasing an additional 111,396 shares during the period. Norges Bank acquired a new stake in shares of Kellanova in the fourth quarter valued at approximately $285,126,000. Finally, Franklin Resources Inc. raised its holdings in shares of Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after buying an additional 2,313,047 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on K. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research note on Monday. They set a "buy" 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 MarketBeat, Kellanova presently has an average rating of "Hold" and an average price target of $77.96.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the completion of the transaction, the insider now directly owns 47,045,365 shares in the company, valued at approximately $3,869,951,724.90. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 1,374,996 shares of company stock valued at $113,098,004 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Down 0.0 %

Shares of K traded down $0.02 during mid-day trading on Monday, hitting $82.35. 2,690,346 shares of the company's stock were exchanged, compared to its average volume of 2,734,618. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The firm has a fifty day moving average of $82.35 and a two-hundred day moving average of $81.52. 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 quarterly earnings data 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, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio is currently 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.