Cerity Partners LLC Sells 106,878 Shares of Kellanova (NYSE:K)

Cerity Partners LLC cut its stake in shares of Kellanova (NYSE:K - Free Report) by 54.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,477 shares of the company's stock after selling 106,878 shares during the period. Cerity Partners LLC's holdings in Kellanova were worth $7,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Kellanova by 65.1% during the 3rd quarter. Wellington Management Group LLP now owns 19,847 shares of the company's stock valued at $1,602,000 after purchasing an additional 7,829 shares during the period. XTX Topco Ltd purchased a new position in shares of Kellanova during the 3rd quarter worth $475,000. Barclays PLC grew its position in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Geode Capital Management LLC increased its stake in shares of Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company's stock worth $541,052,000 after purchasing an additional 196,564 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Kellanova during the third quarter valued at $394,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on K shares. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com assumed coverage on shares of Kellanova in a research note on Sunday. They issued a "hold" rating for the company. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kellanova presently has an average rating of "Hold" and an average target price of $77.96.

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Kellanova Trading Down 0.2 %

NYSE K traded down $0.14 during trading hours on Tuesday, hitting $82.31. 1,372,325 shares of the company were exchanged, compared to its average volume of 2,725,616. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average price of $82.35 and a 200 day moving average price of $81.48. The stock has a market cap of $28.41 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

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

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's payout ratio is 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the completion of the sale, the insider now directly owns 48,305,778 shares of the company's stock, valued at $3,956,726,275.98. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $103,672,407 in the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova 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.