Kellanova (NYSE:K) Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its position in shares of Kellanova (NYSE:K) by 0.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,590,059 shares of the company’s stock after selling 1,997 shares during the quarter. Kellanova comprises about 6.1% of Keybank National Association OH’s investment portfolio, making the stock its largest position. Keybank National Association OH owned approximately 5.68% of Kellanova worth $1,586,207,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in shares of Kellanova in the 4th quarter worth $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova during the 4th quarter worth about $28,000. First Horizon Advisors Inc. increased its stake in shares of 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 last quarter. Sherman Asset Management Inc. bought a new stake in shares of Kellanova in the 4th quarter valued at about $43,000. Finally, Assetmark Inc. raised its position in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the period. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on K shares. StockNews.com assumed coverage on shares of Kellanova in a research note on Tuesday. They issued a “hold” rating for the company. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective 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. According to MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Down 0.4 %

K stock opened at $82.57 on Tuesday. 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 $28.50 billion, a P/E ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.37. The business has a 50-day moving average of $81.81 and a 200-day moving average of $81.08. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.94.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share 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 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.76%. Kellanova’s payout ratio is presently 58.91%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 1,145,830 shares of company stock worth $93,461,916. 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.