Kellanova (NYSE:K) Position Decreased by Natixis

Natixis reduced its holdings in Kellanova (NYSE:K - Free Report) by 62.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,408 shares of the company's stock after selling 97,501 shares during the quarter. Natixis' holdings in Kellanova were worth $4,729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new stake in Kellanova during the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova during the 4th quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. raised its stake in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on K. StockNews.com began coverage on Kellanova in a research report on Monday. They issued a "buy" rating for the company. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $77.96.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, April 14th. The shares were sold at an average price of $82.41, for a total value of $9,442,785.03. Following the transaction, the insider now owns 47,159,948 shares in the company, valued at $3,886,451,314.68. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,672,407. 1.80% of the stock is currently owned by insiders.

Kellanova Price Performance

NYSE K opened at $82.37 on Monday. The company has a 50 day moving average price of $82.35 and a two-hundred day moving average price of $81.52. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The stock has a market capitalization of $28.43 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (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, equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's payout ratio is 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.

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