Kellanova (NYSE:K) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its stake in shares of Kellanova (NYSE:K - Free Report) by 36.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,089 shares of the company's stock after selling 85,237 shares during the period. Prudential Financial Inc.'s holdings in Kellanova were worth $11,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in K. Oregon Public Employees Retirement Fund increased its position in shares of Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after acquiring an additional 130 shares in the last quarter. Quent Capital LLC increased its holdings in Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after purchasing an additional 140 shares in the last quarter. Sanctuary Advisors LLC raised its position in Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock valued at $690,000 after purchasing an additional 145 shares during the period. SPC Financial Inc. lifted its stake in shares of Kellanova by 5.7% during the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock worth $241,000 after purchasing an additional 160 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its position 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 buying an additional 162 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Kellanova Stock Down 0.1 %

Kellanova stock traded down $0.07 during midday trading on Tuesday, hitting $82.43. The stock had a trading volume of 1,305,132 shares, compared to its average volume of 2,361,329. The business has a fifty day moving average price of $82.25 and a 200 day moving average price of $81.36. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The stock has a market cap of $28.45 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date 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 currently 58.91%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the completion of the transaction, the insider now owns 47,389,114 shares in the company, valued at $3,906,758,558.16. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,473,032. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com started coverage on Kellanova in a report on Friday. They set a "hold" rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $77.96.

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.