Jensen Investment Management Inc. Lowers Position in Kellanova (NYSE:K)

Jensen Investment Management Inc. lessened its holdings in Kellanova (NYSE:K) by 19.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,432 shares of the company’s stock after selling 2,695 shares during the quarter. Jensen Investment Management Inc.’s holdings in Kellanova were worth $926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Stonebridge Financial Group LLC purchased a new stake in Kellanova during the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in Kellanova during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the fourth quarter valued at about $32,000. First Horizon Advisors Inc. raised its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. purchased a new stake in Kellanova during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 0.1 %

Shares of NYSE:K opened at $82.22 on Monday. Kellanova has a 1 year low of $52.53 and a 1 year high of $83.22. The company has a market cap of $28.38 billion, a PE ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.31. 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’s 50-day moving average is $82.05 and its 200 day moving average is $81.19.

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

Kellanova Dividend Announcement

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

Insiders Place Their Bets

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 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 represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,099,492. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research report on Tuesday, February 18th. StockNews.com assumed coverage on Kellanova in a research note on Wednesday, March 12th. They set a “hold” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.