Amundi Sells 212,132 Shares of Kellanova (NYSE:K)

Amundi lowered its stake in Kellanova (NYSE:K) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,632,931 shares of the company’s stock after selling 212,132 shares during the quarter. Amundi owned about 0.76% of Kellanova worth $214,689,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Investors Research Corp increased its holdings 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 during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after acquiring an additional 130 shares in the last quarter. Assetmark Inc. lifted its position in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the period. Quent Capital LLC lifted its position in Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after purchasing an additional 140 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after purchasing an additional 145 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $82.45 on Monday. Kellanova has a twelve month low of $52.46 and a twelve month high of $83.22. The firm has a market cap of $28.46 billion, a P/E ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. The company has a 50 day moving average of $81.92 and a 200 day moving average of $81.14. 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 (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on K. StockNews.com initiated coverage on shares of Kellanova in a report on Tuesday, March 4th. They issued a “hold” rating for the company. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a research report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average target price of $77.96.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 1,145,830 shares of company stock valued at $93,673,894 in the last 90 days. Company insiders own 1.80% of the company’s stock.

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.