Dillon & Associates Inc. Trims Stock Position in Kellanova (NYSE:K)

Dillon & Associates Inc. cut its position in Kellanova (NYSE:K - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,010 shares of the company's stock after selling 4,010 shares during the period. Dillon & Associates Inc.'s holdings in Kellanova were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its stake in Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock valued at $1,870,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after buying an additional 140 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock valued at $690,000 after buying an additional 145 shares during the last quarter. SPC Financial Inc. raised its stake in Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock worth $241,000 after acquiring an additional 160 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in Kellanova by 0.7% in the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company's stock valued at $1,820,000 after acquiring an additional 162 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,374,996 shares of company stock worth $112,737,068 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

NYSE K traded down $0.03 during trading hours on Friday, hitting $82.43. 1,328,230 shares of the stock were exchanged, compared to its average volume of 2,672,537. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The stock has a 50-day moving average of $82.24 and a 200 day moving average of $81.32. The company has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS 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%. As a group, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid 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 dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

Analysts Set New Price Targets

K has been the topic of several research reports. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com started coverage on Kellanova in a research note on Friday. They set a "hold" rating on the stock. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.