Kellanova (NYSE:K) Shares Sold by Boston Partners

Boston Partners trimmed its stake in shares of Kellanova (NYSE:K) by 29.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 514,535 shares of the company’s stock after selling 214,735 shares during the quarter. Boston Partners owned about 0.15% of Kellanova worth $41,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in K. Stonebridge Financial Group LLC acquired a new stake in Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova in the 4th quarter valued at approximately $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova in the 4th quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. increased its position in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.36 on Thursday. 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 $54.70 and a 12 month high of $83.22. The business has a fifty day simple moving average of $82.11 and a 200-day simple moving average of $81.23. The stock has a market cap of $28.43 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings data 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 fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is 58.91%.

Analysts Set New Price Targets

Several research firms recently commented on K. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research report on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a research report on Thursday. They set a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,099,492. 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.