Royal London Asset Management Ltd. Sells 12,333 Shares of Kellanova (NYSE:K)

Royal London Asset Management Ltd. cut its stake in shares of Kellanova (NYSE:K - Free Report) by 8.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,576 shares of the company's stock after selling 12,333 shares during the period. Royal London Asset Management Ltd.'s holdings in Kellanova were worth $11,427,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of K. Blue Trust Inc. lifted its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Kellanova in the 2nd quarter valued at approximately $29,000. CVA Family Office LLC boosted its stake in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its position in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after purchasing an additional 137 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on K shares. The Goldman Sachs Group started coverage on Kellanova in a research report on Monday, August 12th. They set a "neutral" rating and a $75.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research report on Thursday, August 15th. StockNews.com initiated coverage on shares of Kellanova in a research note on Friday. They issued a "hold" rating on the stock. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. Finally, Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $76.35.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is owned by corporate insiders.

Kellanova Price Performance

K stock traded down $0.03 during trading on Friday, hitting $80.74. 1,187,405 shares of the stock traded hands, compared to its average volume of 1,813,119. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 2.58 and a beta of 0.38. Kellanova has a one year low of $52.46 and a one year high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a 50 day simple moving average of $80.82 and a 200 day simple moving average of $71.97.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Equities analysts expect that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's payout ratio is presently 78.35%.

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.