JPMorgan Chase & Co. Decreases Stake in Kellanova (NYSE:K)

JPMorgan Chase & Co. trimmed its position in shares of Kellanova (NYSE:K - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,450,835 shares of the company's stock after selling 15,738 shares during the quarter. JPMorgan Chase & Co. owned about 0.42% of Kellanova worth $117,474,000 at the end of the most recent reporting period.

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

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Kellanova in a report on Saturday. They issued a "hold" rating on the stock. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $77.96.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the transaction, the insider now owns 48,649,527 shares of the company's stock, valued at approximately $3,954,233,554.56. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,374,996 shares of company stock valued at $112,872,276. Company insiders own 1.80% of the company's stock.

Kellanova Stock Performance

Shares of NYSE K traded down $0.48 during trading on Monday, hitting $81.76. The company had a trading volume of 9,700,476 shares, compared to its average volume of 2,706,675. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm has a market capitalization of $28.22 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The stock has a 50 day simple moving average of $82.30 and a 200 day simple moving average of $81.41.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. As a group, analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio (DPR) is 58.91%.

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.