Diversified Trust Co Trims Stock Position in Kellanova (NYSE:K)

Diversified Trust Co decreased its position in Kellanova (NYSE:K - Free Report) by 74.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,963 shares of the company's stock after selling 61,957 shares during the quarter. Diversified Trust Co's holdings in Kellanova were worth $1,697,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Candriam S.C.A. lifted its holdings in Kellanova by 5.0% during the 2nd quarter. Candriam S.C.A. now owns 37,701 shares of the company's stock worth $2,174,000 after buying an additional 1,811 shares in the last quarter. Savant Capital LLC grew its stake in Kellanova by 221.5% during the 2nd quarter. Savant Capital LLC now owns 12,914 shares of the company's stock worth $745,000 after purchasing an additional 8,897 shares in the last quarter. Choreo LLC increased its holdings in Kellanova by 101.2% during the 2nd quarter. Choreo LLC now owns 7,966 shares of the company's stock worth $453,000 after purchasing an additional 4,007 shares during the period. LGT Group Foundation raised its position in Kellanova by 22.5% in the 2nd quarter. LGT Group Foundation now owns 9,890 shares of the company's stock valued at $570,000 after purchasing an additional 1,815 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Kellanova by 28.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,327 shares of the company's stock valued at $1,980,000 after purchasing an additional 7,605 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

NYSE K traded up $0.18 during trading on Thursday, reaching $81.53. The company's stock had a trading volume of 1,643,021 shares, compared to its average volume of 1,941,304. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 2.59 and a beta of 0.37. The business's fifty day moving average price is $80.87 and its 200-day moving average price is $75.54. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

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

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova's payout ratio is 78.35%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of analyst reports. Argus cut Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Finally, StockNews.com assumed coverage on Kellanova in a report on Tuesday. They issued a "hold" rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $76.35.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the completion of the sale, the insider now directly owns 49,909,940 shares in the company, valued at approximately $4,024,238,462.20. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 1,031,247 shares of company stock valued at $83,418,716. Corporate insiders own 1.80% of the company's stock.

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.