Bridgewater Associates LP Sells 143,022 Shares of Kellanova (NYSE:K)

Bridgewater Associates LP lowered its holdings in Kellanova (NYSE:K) by 68.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,261 shares of the company’s stock after selling 143,022 shares during the quarter. Bridgewater Associates LP’s holdings in Kellanova were worth $5,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Stonebridge Financial Group LLC bought a new stake in Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova in the fourth quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova during the fourth quarter valued at $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on K. StockNews.com started coverage on Kellanova in a research note on Sunday, April 13th. They set a “hold” rating for the company. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Up 0.1 %

K opened at $82.37 on Friday. The stock has a market cap 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 0.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm’s fifty day moving average is $82.35 and its 200 day moving average is $81.50. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share 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 forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 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 dated Friday, February 28th. The stock was sold at an average price of $82.70, for a total value of $9,476,014.10. Following the sale, the insider now directly owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,672,407. 1.80% of the stock is currently owned by corporate insiders.

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.