Commonwealth Equity Services LLC Reduces Stock Position in Kellanova (NYSE:K)

Commonwealth Equity Services LLC lowered its holdings in shares of Kellanova (NYSE:K) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,137 shares of the company’s stock after selling 9,933 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Kellanova were worth $12,966,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of K. Assetmark Inc. boosted its holdings in Kellanova by 26.2% during 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. CIBC Asset Management Inc grew its position in shares of Kellanova by 7.0% during the 3rd quarter. CIBC Asset Management Inc now owns 47,901 shares of the company’s stock worth $3,866,000 after buying an additional 3,149 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Kellanova by 7.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company’s stock worth $1,750,000 after buying an additional 1,432 shares in the last quarter. Swiss National Bank grew its position in shares of Kellanova by 0.3% during the 3rd quarter. Swiss National Bank now owns 811,800 shares of the company’s stock worth $65,520,000 after buying an additional 2,500 shares in the last quarter. Finally, MAI Capital Management grew its position in shares of Kellanova by 2.1% during the 3rd quarter. MAI Capital Management now owns 9,767 shares of the company’s stock worth $788,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.0 %

Shares of NYSE K opened at $82.36 on Wednesday. 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 $28.43 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 1-year low of $54.47 and a 1-year high of $83.22. The business has a fifty day moving average price of $82.09 and a 200 day moving average price of $81.22.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 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%. Equities research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised 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 report on Wednesday, March 12th. They set a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and an average target price of $77.96.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,099,492. 1.80% of the stock is owned by insiders.

Kellanova Company 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.