Legal & General Group Plc reduced its stake in Kellanova (NYSE:K - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,058,751 shares of the company's stock after selling 622,541 shares during the quarter. Legal & General Group Plc owned about 0.60% of Kellanova worth $166,697,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently modified their holdings of K. Stonebridge Financial Group LLC bought a new position in shares of Kellanova during the 4th quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova in the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova in the 4th quarter worth about $32,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after purchasing an additional 173 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the 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 sale, the insider now directly owns 48,305,778 shares of the company's stock, valued at approximately $3,956,726,275.98. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,672,407 over the last three months. 1.80% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on K shares. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research note on Sunday. They set a "hold" rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova currently has an average rating of "Hold" and an average target price of $77.96.
Read Our Latest Stock Report on Kellanova
Kellanova Stock Down 0.1 %
NYSE K traded down $0.11 during trading on Tuesday, reaching $82.34. 541,075 shares of the company's stock were exchanged, compared to its average volume of 2,589,457. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The stock has a market cap of $28.43 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The company has a 50 day moving average price of $82.35 and a two-hundred day moving average price of $81.48.
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 the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.
Kellanova Dividend Announcement
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's payout ratio is 58.91%.
Kellanova Profile
(
Free Report)
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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