Kintegral Advisory LLC Reduces Stock Position in Kellanova (NYSE:K)

Kintegral Advisory LLC lessened its holdings in Kellanova (NYSE:K) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,852 shares of the company’s stock after selling 3,952 shares during the quarter. Kintegral Advisory LLC’s holdings in Kellanova were worth $6,870,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its position in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the period. Geode Capital Management LLC increased its holdings in Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after buying an additional 196,564 shares in the last quarter. Barclays PLC increased its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kellanova by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after buying an additional 35,268 shares in the last quarter. Finally, Ilex Capital Partners UK LLP increased its holdings in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after buying an additional 632,510 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 1,145,830 shares of company stock worth $93,291,187. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages 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 objective for the company in a research note on Tuesday. StockNews.com began coverage on shares of Kellanova in a research note on Sunday, February 16th. They set a “hold” rating for the company. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

NYSE:K opened at $82.63 on Friday. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.72. The firm’s fifty day simple moving average is $81.51 and its 200 day simple moving average is $80.64. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.48 billion, a PE ratio of 21.35, a PEG ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last posted its quarterly earnings results 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 net margin of 10.53% and a return on equity of 37.25%. On average, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s dividend payout ratio is 58.91%.

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.