Prudential PLC Cuts Stock Position in Kellanova (NYSE:K)

Prudential PLC lowered its stake in Kellanova (NYSE:K - Free Report) by 31.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,068 shares of the company's stock after selling 39,261 shares during the period. Prudential PLC's holdings in Kellanova were worth $7,050,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of K. Public Sector Pension Investment Board boosted its position in Kellanova by 26.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company's stock valued at $884,000 after buying an additional 2,300 shares during the period. Benjamin Edwards Inc. purchased a new position in Kellanova during the 3rd quarter valued at about $636,000. Janus Henderson Group PLC raised its position in Kellanova by 91.2% during the 3rd quarter. Janus Henderson Group PLC now owns 196,185 shares of the company's stock valued at $15,833,000 after purchasing an additional 93,586 shares during the last quarter. Investment Management Corp of Ontario lifted its holdings in Kellanova by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 9,174 shares of the company's stock worth $740,000 after buying an additional 3,000 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new stake in Kellanova in the 3rd quarter worth approximately $2,018,000. Institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

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

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Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the sale, the insider now owns 48,649,527 shares of the company's stock, valued at approximately $3,954,233,554.56. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,374,996 shares of company stock valued at $112,872,276 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Down 0.6 %

Shares of K traded down $0.48 during trading hours on Monday, hitting $81.76. The company had a trading volume of 9,700,476 shares, compared to its average volume of 2,706,668. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The firm has a fifty day moving average price of $82.30 and a 200-day moving average price of $81.41. The stock has a market capitalization of $28.22 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 4.21 and a beta of 0.34. 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 (NYSE:K - Get Free Report) last issued its earnings results 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 net margin of 10.53% and a return on equity of 37.25%. On average, equities research analysts forecast that Kellanova will post 3.93 EPS 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 paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova's dividend payout ratio is currently 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.