Anchor Capital Advisors LLC Cuts Stock Position in Kellanova (NYSE:K)

Anchor Capital Advisors LLC cut its stake in Kellanova (NYSE:K) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,810 shares of the company’s stock after selling 805 shares during the period. Anchor Capital Advisors LLC’s holdings in Kellanova were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Investors Research Corp boosted its stake in Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after purchasing an additional 125 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Kellanova by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. boosted its stake in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares in the last quarter. Quent Capital LLC lifted its stake in Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after acquiring an additional 140 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after acquiring an additional 145 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,145,830 shares of company stock valued at $93,461,916. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on K shares. StockNews.com started coverage on shares of Kellanova in a research note on Monday, February 24th. They set a “hold” rating for the company. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research note on Tuesday, February 18th. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Price Performance

NYSE:K opened at $82.90 on Friday. 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 firm has a market cap of $28.62 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The company has a 50 day moving average price of $81.77 and a 200-day moving average price of $80.96. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.94.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities research analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s payout ratio is presently 58.91%.

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.