Great Lakes Advisors LLC Lowers Holdings in Kellanova (NYSE:K)

Great Lakes Advisors LLC reduced its holdings in shares of Kellanova (NYSE:KFree Report) by 74.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,393 shares of the company’s stock after selling 18,636 shares during the period. Great Lakes Advisors LLC’s holdings in Kellanova were worth $357,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP lifted its stake in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after acquiring an additional 341 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. Northwest Financial Advisors purchased a new position in Kellanova in the fourth quarter valued at $42,000. Massmutual Trust Co. FSB ADV raised its stake in Kellanova by 339.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after buying an additional 928 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Kellanova during the 4th quarter worth about $74,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Down 1.0 %

Shares of Kellanova stock opened at $61.62 on Thursday. The firm has a market cap of $21.07 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.21 and a beta of 0.39. Kellanova has a 52-week low of $47.63 and a 52-week high of $68.93. The company’s 50-day simple moving average is $58.13 and its 200-day simple moving average is $55.64. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:KGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, equities research analysts anticipate that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. Kellanova’s payout ratio is currently 83.90%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $62.01, for a total value of $4,824,378.00. Following the completion of the transaction, the insider now directly owns 51,608,838 shares of the company’s stock, valued at $3,200,264,044.38. The sale was disclosed in a filing with the SEC, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.01, for a total value of $4,824,378.00. Following the sale, the insider now owns 51,608,838 shares of the company’s stock, valued at $3,200,264,044.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold a total of 943,400 shares of company stock valued at $54,183,354 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on K shares. TD Cowen increased their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, DA Davidson boosted their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.85.

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Kellanova Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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