Korea Investment CORP Sells 22,403 Shares of Kellanova (NYSE:K)

Korea Investment CORP trimmed its position in Kellanova (NYSE:K - Free Report) by 12.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,696 shares of the company's stock after selling 22,403 shares during the period. Korea Investment CORP's holdings in Kellanova were worth $12,931,000 as of its most recent SEC filing.

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

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the sale, the insider now directly owns 48,534,944 shares of the company's stock, valued at approximately $3,951,715,140.48. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 1,260,413 shares of company stock valued at $103,473,032. Insiders own 1.80% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently commented on K. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research note on Friday, March 28th. They set a "hold" rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $77.96.

Kellanova Price Performance

K remained flat at $82.50 during trading on Wednesday. The company had a trading volume of 1,956,428 shares, compared to its average volume of 2,672,750. The firm's fifty day moving average price is $82.27 and its 200-day moving average price is $81.37. 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 52-week low of $55.01 and a 52-week high of $83.22. The stock has a market cap of $28.48 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate 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 dividend of $0.57 per share. 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 2.76%. Kellanova's dividend payout ratio is currently 58.91%.

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.