Metis Global Partners LLC Sells 8,774 Shares of Kellanova (NYSE:K)

Metis Global Partners LLC lowered its position in Kellanova (NYSE:K - Free Report) by 31.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,253 shares of the company's stock after selling 8,774 shares during the period. Metis Global Partners LLC's holdings in Kellanova were worth $1,559,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Investors Research Corp boosted its stake in Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company's stock worth $1,049,000 after buying an additional 125 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after purchasing an additional 130 shares during the last quarter. Assetmark Inc. grew its position in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock worth $51,000 after buying an additional 131 shares during the period. Quent Capital LLC grew its position in shares of Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock worth $67,000 after buying an additional 140 shares during the period. Finally, Sanctuary Advisors LLC grew its position in shares of Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock worth $690,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Performance

Kellanova stock traded up $0.06 during trading on Thursday, reaching $82.43. The company had a trading volume of 140,303 shares, compared to its average volume of 2,374,406. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22. The firm's 50-day simple moving average is $81.87 and its 200 day simple moving average is $81.10. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS 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%. Sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock valued at $93,461,916 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com initiated coverage on Kellanova in a research report on Tuesday. They set a "hold" rating for the company. Royal Bank of Canada upgraded Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Kellanova currently has an average 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.