Franklin Resources Inc. Has $21.45 Million Stake in Kellanova (NYSE:K)

Franklin Resources Inc. trimmed its holdings in Kellanova (NYSE:K - Free Report) by 47.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,011 shares of the company's stock after selling 242,795 shares during the quarter. Franklin Resources Inc. owned 0.08% of Kellanova worth $21,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in K. Peapack Gladstone Financial Corp grew its holdings in shares of Kellanova by 0.6% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company's stock worth $6,587,000 after acquiring an additional 507 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Kellanova in the 3rd quarter worth about $210,000. Sanctuary Advisors LLC raised its holdings in Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock worth $690,000 after buying an additional 145 shares during the period. Virtu Financial LLC acquired a new stake in Kellanova during the 3rd quarter worth about $374,000. Finally, Bard Financial Services Inc. purchased a new stake in Kellanova during the third quarter valued at about $272,000. Institutional investors own 83.87% of the company's stock.

Kellanova Price Performance

Kellanova stock traded up $0.16 on Friday, reaching $80.50. The company's stock had a trading volume of 5,307,172 shares, compared to its average volume of 2,945,288. The business's fifty day moving average price is $80.81 and its 200 day moving average price is $73.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market cap of $27.75 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter last year, the company posted $1.03 EPS. The company's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova's dividend payout ratio is presently 78.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on K shares. Argus lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. StockNews.com started coverage on shares of Kellanova in a report on Saturday, December 14th. They set a "hold" rating for the company. BNP Paribas lowered shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Finally, DA Davidson lowered shares of Kellanova from a "buy" rating to a "neutral" rating and lifted their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $76.35.

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 that occurred on Monday, December 9th. The shares were sold at an average price of $80.70, for a total value of $9,246,848.10. Following the completion of the sale, the insider now owns 49,107,859 shares of the company's stock, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,031,247 shares of company stock worth $83,327,049 in the last three months. Insiders own 1.80% of the company's stock.

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.