Amundi Cuts Holdings in Kellanova (NYSE:K)

Amundi decreased its position in shares of Kellanova (NYSE:K) by 7.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,632,931 shares of the company’s stock after selling 212,132 shares during the quarter. Amundi’s holdings in Kellanova were worth $214,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in K. State Street Corp boosted its position in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares during the last quarter. Barclays PLC boosted its holdings in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Kellanova by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after purchasing an additional 50,303 shares during the period. Finally, Ilex Capital Partners UK LLP increased its stake in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on K shares. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Kellanova in a research note on Tuesday, March 4th. They issued a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Stock Up 0.0 %

Shares of Kellanova stock opened at $82.45 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.46 billion, a P/E ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. The firm’s 50 day moving average price is $81.92 and its 200-day moving average price is $81.14. Kellanova has a 52-week low of $52.46 and a 52-week high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. On average, sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

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

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,145,830 shares of company stock worth $93,673,894. Insiders own 1.80% of the company’s stock.

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.