Investors Research Corp Sells 250 Shares of Kellanova (NYSE:K)

Investors Research Corp reduced its holdings in shares of Kellanova (NYSE:K) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 12,741 shares of the company’s stock after selling 250 shares during the period. Investors Research Corp’s holdings in Kellanova were worth $1,032,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its holdings in Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after buying an additional 130 shares in the last quarter. Assetmark Inc. lifted its stake in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares in the last quarter. Quent Capital LLC lifted its stake in Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after purchasing an additional 140 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares during the last quarter. Finally, SPC Financial Inc. boosted its holdings in Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after acquiring an additional 160 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE K opened at $82.45 on Monday. The company has a market capitalization of $28.46 billion, a P/E ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31. The firm has a 50-day moving average price of $81.92 and a two-hundred day moving average price of $81.14. Kellanova has a 12-month low of $52.46 and a 12-month high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its 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 return on equity of 37.25% and a net margin of 10.53%. Analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were 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 in the company, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 1,145,830 shares of company stock valued at $93,673,894. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports 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 note on Tuesday, February 18th. StockNews.com initiated coverage on Kellanova in a research report on Tuesday, March 4th. They issued a “hold” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.96.

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.