Sei Investments Co. Sells 24,429 Shares of Kellanova (NYSE:K)

Sei Investments Co. trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 39.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,754 shares of the company's stock after selling 24,429 shares during the quarter. Sei Investments Co.'s holdings in Kellanova were worth $2,976,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company's stock worth $1,188,489,000 after acquiring an additional 731,273 shares during the period. Geode Capital Management LLC raised its position in Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company's stock valued at $541,052,000 after purchasing an additional 196,564 shares in the last quarter. Barclays PLC lifted its stake in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kellanova by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company's stock valued at $136,103,000 after purchasing an additional 50,303 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Kellanova by 9.3% in the 4th quarter. Swiss National Bank now owns 886,900 shares of the company's stock valued at $71,812,000 after purchasing an additional 75,100 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

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Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the sale, the insider now owns 47,274,531 shares in the company, valued at $3,877,929,777.93. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 1,260,413 shares of company stock worth $103,558,970. 1.80% of the stock is currently owned by insiders.

Kellanova Trading Up 0.1 %

Shares of K stock traded up $0.09 during trading hours on Tuesday, hitting $81.73. 4,984,342 shares of the company's stock traded hands, compared to its average volume of 2,713,941. The stock has a market cap of $28.22 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The stock's 50 day simple moving average is $82.30 and its 200 day simple moving average is $81.42. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced 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 return on equity of 37.25% and a net margin of 10.53%. On average, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova's payout ratio is presently 58.91%.

Wall Street Analyst Weigh In

K has been the topic of several research analyst reports. StockNews.com initiated coverage on Kellanova in a research note on Saturday. They issued a "hold" rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note 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's stock. According to data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus price target of $77.96.

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.