Kellanova (NYSE:K) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in Kellanova (NYSE:K) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,602 shares of the company’s stock after selling 2,949 shares during the period. Corebridge Financial Inc.’s holdings in Kellanova were worth $5,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in Kellanova during the 4th quarter worth $27,000. BankPlus Trust Department acquired a new position in Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its stake in 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. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the transaction, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 1,374,996 shares of company stock worth $112,737,068 over the last three months. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on K shares. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a report on Friday. They set a “hold” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Price Performance

Kellanova stock opened at $82.43 on Friday. The company’s 50 day simple moving average is $82.24 and its 200-day simple moving average is $81.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The company has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. As a group, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given 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 is currently 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.