LGT Group Foundation Cuts Stock Position in Kellanova (NYSE:K)

LGT Group Foundation decreased its holdings in shares of Kellanova (NYSE:K) by 52.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,690 shares of the company’s stock after selling 4,000 shares during the quarter. LGT Group Foundation’s holdings in Kellanova were worth $299,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of K. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department bought a new stake in Kellanova in the fourth quarter worth $28,000. First Horizon Advisors Inc. lifted its position in Kellanova by 64.8% in the fourth 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 last quarter. Sherman Asset Management Inc. purchased a new position in Kellanova during the fourth quarter worth $43,000. Finally, Assetmark Inc. increased its position in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 1,145,830 shares of company stock valued at $93,461,916. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.3 %

K opened at $82.33 on Wednesday. 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’s fifty day moving average is $81.84 and its two-hundred day moving average is $81.09. The company has a market capitalization of $28.42 billion, a P/E ratio of 21.27, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. Analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

K has been the subject of a number of recent analyst reports. StockNews.com began coverage on shares of Kellanova in a research note on Tuesday. They set a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.96.

About Kellanova

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.