Boston Partners Sells 214,735 Shares of Kellanova (NYSE:K)

Boston Partners cut its holdings in Kellanova (NYSE:K) by 29.4% during the fourth quarter, HoldingsChannel reports. The firm owned 514,535 shares of the company’s stock after selling 214,735 shares during the period. Boston Partners’ holdings in Kellanova were worth $41,662,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in K. Independent Advisor Alliance boosted its holdings in Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Wedmont Private Capital acquired a new stake in Kellanova during the fourth quarter valued at approximately $384,000. Barclays PLC boosted its holdings in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Kellanova during the third quarter valued at approximately $4,211,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

Shares of K stock opened at $82.36 on Thursday. Kellanova has a 12-month low of $54.70 and a 12-month high of $83.22. The firm has a market capitalization of $28.43 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 firm has a fifty day moving average of $82.11 and a 200-day moving average of $81.23.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on K shares. StockNews.com assumed coverage on Kellanova in a report on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $103,099,492 in the last three months. Insiders own 1.80% of the company’s stock.

About Kellanova

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.