Kellanova (NYSE:K) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its position in shares of Kellanova (NYSE:K) by 52.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 24,639 shares of the company’s stock after selling 26,760 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Kellanova were worth $1,995,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Westchester Capital Management LLC bought a new stake in shares of Kellanova during the 3rd quarter worth $107,795,000. Barclays PLC boosted its stake in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. State Street Corp boosted its stake in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after acquiring an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP boosted its stake in shares of Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after acquiring an additional 632,510 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of Kellanova by 538.6% during the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after acquiring an additional 493,976 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 1,374,996 shares of company stock worth $112,530,818. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $82.40 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The business has a fifty day simple moving average of $82.14 and a 200 day simple moving average of $81.25. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on K shares. StockNews.com started coverage on Kellanova in a research note on Thursday. They set a “hold” rating for the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.96.

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.