AMF Tjanstepension AB Reduces Position in Kellanova (NYSE:K)

AMF Tjanstepension AB trimmed its position in shares of Kellanova (NYSE:K) by 60.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,048 shares of the company’s stock after selling 168,484 shares during the period. AMF Tjanstepension AB’s holdings in Kellanova were worth $9,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Westchester Capital Management LLC purchased a new stake in Kellanova in the 3rd quarter valued at about $107,795,000. Barclays PLC boosted its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. State Street Corp boosted its holdings in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP boosted its holdings in Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after buying an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas purchased a new position in Kellanova during the fourth quarter valued at $29,595,000. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $80.70, for a total value of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 1,260,413 shares of company stock valued at $102,920,742. 1.80% of the stock is owned by corporate insiders.

Kellanova Price Performance

Shares of NYSE K opened at $82.45 on Friday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $83.22. The firm’s 50-day simple moving average is $81.92 and its 200 day simple moving average is $81.13. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a market cap of $28.46 billion, a P/E ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31.

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%. Equities analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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