Bridgewater Associates LP Lowers Stock Holdings in Kellanova (NYSE:K)

Bridgewater Associates LP reduced its position in Kellanova (NYSE:K - Free Report) by 69.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,283 shares of the company's stock after selling 465,995 shares during the quarter. Bridgewater Associates LP owned approximately 0.06% of Kellanova worth $16,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of K. Swedbank AB grew its stake in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company's stock worth $22,076,000 after purchasing an additional 46,450 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company's stock worth $15,049,000 after buying an additional 217,320 shares in the last quarter. Principal Financial Group Inc. raised its holdings in 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. Atria Investments Inc purchased a new position in Kellanova in the first quarter worth approximately $1,003,000. Finally, Tidal Investments LLC lifted its stake in Kellanova by 36.7% in the first quarter. Tidal Investments LLC now owns 37,451 shares of the company's stock worth $2,145,000 after acquiring an additional 10,051 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 1,031,247 shares of company stock worth $83,211,320. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on K shares. The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a "neutral" rating and a $75.00 price objective for the company. Royal Bank of Canada downgraded Kellanova from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Argus cut Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. StockNews.com assumed coverage on Kellanova in a research report on Thursday. They set a "hold" rating on the stock. Finally, Barclays upped their price target on Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $76.35.

Kellanova Stock Up 0.0 %

K stock opened at $81.15 on Thursday. The company has a market cap of $27.97 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The company has a fifty day moving average price of $80.80 and a 200 day moving average price of $71.12. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business posted $1.03 earnings per share. Kellanova's quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova's payout ratio is 78.35%.

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.

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