Deutsche Bank AG Sells 94,773 Shares of Kellanova (NYSE:K)

Deutsche Bank AG reduced its stake in Kellanova (NYSE:K) by 5.2% in the 4th quarter, HoldingsChannel reports. The firm owned 1,713,673 shares of the company’s stock after selling 94,773 shares during the quarter. Deutsche Bank AG’s holdings in Kellanova were worth $138,756,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Kellanova in the 4th quarter worth $285,126,000. Franklin Resources Inc. grew its stake in Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after acquiring an additional 2,313,047 shares in the last quarter. FIL Ltd increased its stake in Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock worth $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Barclays PLC raised its position in shares of 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 buying an additional 1,033,383 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in Kellanova by 136.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock worth $141,356,000 after buying an additional 1,006,100 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.41.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the transaction, the insider now owns 47,847,446 shares in the company, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 1,374,996 shares of company stock valued at $113,261,858. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Performance

NYSE:K opened at $82.50 on Friday. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.62 billion, a P/E ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.30. The stock has a 50-day moving average price of $82.39 and a 200 day moving average price of $81.71.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s payout ratio is currently 57.58%.

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.