Dimensional Fund Advisors LP Decreases Stock Holdings in Kellanova (NYSE:K)

Dimensional Fund Advisors LP cut its holdings in Kellanova (NYSE:K - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,645,412 shares of the company's stock after selling 9,364 shares during the quarter. Dimensional Fund Advisors LP owned 0.77% of Kellanova worth $214,197,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in Kellanova in the fourth quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova during the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. increased its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com began coverage on shares of Kellanova in a research note on Monday. They set a "buy" rating for the company. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $77.96.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.59 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock's fifty day moving average price is $82.37 and its 200-day moving average price is $81.54. The firm has a market cap of $28.51 billion, a P/E ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued 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 2.76%. Kellanova's dividend payout ratio is currently 58.91%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the completion of the sale, the insider now owns 48,305,778 shares of the company's stock, valued at $3,956,726,275.98. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $103,737,719. 1.80% of the stock is currently owned by corporate 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.

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