Empowered Funds LLC Cuts Stock Position in Kellanova (NYSE:K)

Empowered Funds LLC reduced its position in Kellanova (NYSE:K - Free Report) by 70.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,146 shares of the company's stock after selling 12,218 shares during the quarter. Empowered Funds LLC's holdings in Kellanova were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. MCF Advisors LLC raised its position in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after acquiring an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock valued at $44,000 after buying an additional 158 shares during the last quarter. Assetmark Inc. grew its position in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock worth $51,000 after buying an additional 131 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Kellanova during the 3rd quarter worth approximately $55,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Kellanova during the fourth quarter valued at approximately $56,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

K has been the topic of several analyst reports. Royal Bank of Canada raised shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a report on Tuesday. StockNews.com started coverage on Kellanova in a research note on Sunday, February 16th. They set a "hold" rating on the stock. Finally, BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $77.96.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,145,830 shares of company stock worth $93,291,187 over the last quarter. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Performance

K traded up $0.18 during trading on Friday, reaching $82.63. 2,683,975 shares of the company's stock were exchanged, compared to its average volume of 2,372,742. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.72. The company's fifty day simple moving average is $81.55 and its 200-day simple moving average is $80.65. The stock has a market capitalization of $28.48 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

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.