Kellanova (NYSE:K) Holdings Cut by HM Payson & Co.

HM Payson & Co. reduced its position in Kellanova (NYSE:K) by 15.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,137 shares of the company’s stock after selling 577 shares during the period. HM Payson & Co.’s holdings in Kellanova were worth $254,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of K. Principal Financial Group Inc. raised its stake in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Kellanova in the third quarter valued at approximately $55,000. Assetmark Inc. boosted its holdings in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Kellanova during the 3rd quarter worth approximately $78,000. Finally, Wolverine Asset Management LLC bought a new stake in Kellanova during the 3rd quarter worth approximately $1,815,000. 83.87% of the stock is currently owned by institutional investors.

Kellanova Price Performance

K opened at $82.45 on Monday. The company has a fifty day simple moving average of $81.92 and a 200 day simple 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. 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 has a 12 month low of $52.46 and a 12 month high of $83.22.

Kellanova (NYSE:K) last released its quarterly 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 return on equity of 37.25% and a net margin of 10.53%. On average, research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Kellanova

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

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.