Kellanova (NYSE:K) Stock Position Trimmed by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Kellanova (NYSE:K - Free Report) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 346,587 shares of the company's stock after selling 20,900 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.10% of Kellanova worth $28,061,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department purchased a new stake in Kellanova during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the transaction, the insider now owns 48,305,778 shares of the company's stock, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 1,260,413 shares of company stock worth $103,737,719. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. StockNews.com assumed coverage on shares of Kellanova in a research report on Monday. They set a "buy" rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $77.96.

Kellanova Stock Down 0.1 %

Shares of NYSE K traded down $0.11 during midday trading on Thursday, reaching $82.74. 3,282,524 shares of the company's stock were exchanged, compared to its average volume of 2,747,199. The stock has a market capitalization of $28.56 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. 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 business's fifty day moving average price is $82.38 and its two-hundred day moving average price is $81.55.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. Analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova's dividend payout ratio is currently 58.91%.

Kellanova 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.