Kellogg W K Foundation Trust Decreases Stake in Kellanova (NYSE:K)

Kellogg W K Foundation Trust cut its stake in shares of Kellanova (NYSE:K) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,764,110 shares of the company’s stock after selling 1,374,996 shares during the period. Kellanova comprises approximately 94.2% of Kellogg W K Foundation Trust’s investment portfolio, making the stock its biggest position. Kellogg W K Foundation Trust owned approximately 0.14% of Kellanova worth $3,948,430,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of K. State Street Corp increased its holdings in Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after purchasing an additional 196,564 shares during the last quarter. Barclays PLC increased its stake in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Kellanova by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after buying an additional 35,268 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its position in Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after buying an additional 632,510 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Price Performance

Shares of K opened at $82.63 on Friday. The firm has a market cap of $28.48 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.72. The business’s 50 day moving average price is $81.51 and its two-hundred day moving average price is $80.64. 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 (NYSE:K) last released its 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 net margin of 10.53% and a return on equity of 37.25%. On average, equities analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is presently 58.91%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $93,291,187 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on K shares. StockNews.com initiated coverage on shares of Kellanova in a research report on Sunday, February 16th. They issued a “hold” rating for the company. 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. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.96.

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.