Kellanova (NYSE:K) Shares Sold by Prudential PLC

Prudential PLC lessened its holdings in Kellanova (NYSE:K) by 31.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,068 shares of the company’s stock after selling 39,261 shares during the quarter. Prudential PLC’s holdings in Kellanova were worth $7,050,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of K. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova in the fourth quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. increased its holdings in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on K. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research report on Saturday. They set a “hold” rating on the stock. Fourteen equities 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, Kellanova presently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the sale, the insider now owns 48,534,944 shares of the company’s stock, valued at $3,951,715,140.48. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.4 %

Kellanova stock opened at $82.25 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market capitalization of $28.39 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business has a 50 day simple moving average of $82.31 and a 200-day simple moving average of $81.39. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22.

Kellanova (NYSE:K) 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, analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio is presently 58.91%.

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.