Securian Asset Management Inc. Sells 282 Shares of Kellanova (NYSE:K)

Securian Asset Management Inc. trimmed its stake in shares of Kellanova (NYSE:K) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,449 shares of the company’s stock after selling 282 shares during the quarter. Securian Asset Management Inc.’s holdings in Kellanova were worth $1,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter worth about $27,000. BankPlus Trust Department bought a new position in Kellanova in the 4th quarter worth about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova in the 4th quarter worth about $32,000. First Horizon Advisors Inc. boosted its holdings in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. purchased a new position in shares of Kellanova in the 4th quarter worth about $43,000. 83.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value 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 approximately $3,942,578,293.50. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 1,260,413 shares of company stock worth $103,099,492. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Kellanova Trading Down 0.1 %

Shares of K stock opened at $82.22 on Friday. Kellanova has a 1-year low of $52.53 and a 1-year high of $83.22. 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 business has a 50-day moving average of $82.05 and a 200 day moving average of $81.19. The stock has a market capitalization of $28.38 billion, a PE ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released 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%. As a group, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

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.