Gateway Investment Advisers LLC Sells 6,128 Shares of Kellanova (NYSE:K)

Gateway Investment Advisers LLC trimmed its position in shares of Kellanova (NYSE:K - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,622 shares of the company's stock after selling 6,128 shares during the period. Gateway Investment Advisers LLC's holdings in Kellanova were worth $1,022,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CVA Family Office LLC increased its position in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after buying an additional 200 shares during the period. MCF Advisors LLC raised its stake in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after buying an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock worth $44,000 after buying an additional 158 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company's stock worth $50,000 after buying an additional 256 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Performance

K traded up $0.17 during trading on Friday, hitting $81.73. The company's stock had a trading volume of 2,647,218 shares, compared to its average volume of 1,723,373. The business's 50 day simple moving average is $80.95 and its 200-day simple moving average is $76.54. The firm has a market cap of $28.17 billion, a PE ratio of 28.09, a P/E/G ratio of 2.49 and a beta of 0.37. Kellanova has a one year low of $52.46 and a one year high of $81.79. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, sell-side analysts predict that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. Kellanova's payout ratio is 78.35%.

Insider Transactions 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 Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the transaction, the insider now directly owns 49,680,774 shares of the company's stock, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,031,247 shares of company stock valued at $83,509,236 over the last 90 days. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several equities 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. BNP Paribas cut shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Finally, StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday. They issued a "hold" rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $76.35.

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.