Westpac Banking Corp Has $4.50 Million Holdings in Kellanova (NYSE:K)

Westpac Banking Corp lowered its stake in Kellanova (NYSE:K - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,598 shares of the company's stock after selling 13,305 shares during the quarter. Westpac Banking Corp's holdings in Kellanova were worth $4,502,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Kellanova in the 3rd quarter worth $378,000. Townsquare Capital LLC purchased a new position in Kellanova in the third quarter valued at about $414,000. Public Sector Pension Investment Board grew its stake 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 purchasing an additional 2,300 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Kellanova in the 3rd quarter valued at approximately $534,000. Finally, Benjamin Edwards Inc. bought a new position in Kellanova during the 3rd quarter valued at $636,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on K. StockNews.com assumed coverage on shares of Kellanova in a research note on Saturday. They set a "hold" rating for the company. Royal Bank of Canada lowered 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $77.96.

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Kellanova Price Performance

Shares of Kellanova stock traded up $0.24 during trading on Tuesday, hitting $81.88. The stock had a trading volume of 1,506,212 shares, compared to its average volume of 2,702,230. The business has a fifty day moving average of $82.30 and a two-hundred day moving average of $81.41. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The firm has a market cap of $28.26 billion, a P/E ratio of 21.15, a PEG ratio of 4.21 and a beta of 0.34. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 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, sell-side analysts expect 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 was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.78%. Kellanova's dividend payout ratio (DPR) is 58.91%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $82.03, for a total value of $9,399,243.49. Following the completion of the transaction, the insider now owns 47,274,531 shares of the company's stock, valued at approximately $3,877,929,777.93. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $103,558,970. Corporate insiders own 1.80% of the company's stock.

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.