Kellanova (NYSE:K) Shares Sold by Prudential PLC

Prudential PLC lowered its stake in shares of Kellanova (NYSE:K) by 31.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 87,068 shares of the company’s stock after selling 39,261 shares during the quarter. Prudential PLC’s holdings in Kellanova were worth $7,050,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in K. Norges Bank purchased a new stake in shares of Kellanova in the fourth quarter valued at about $285,126,000. Franklin Resources Inc. grew its stake in shares of Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after buying an additional 2,313,047 shares during the period. Barclays PLC increased its holdings 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 buying an additional 1,033,383 shares during the last quarter. State Street Corp raised its position 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 valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Finally, Cibc World Markets Corp lifted its holdings in Kellanova by 538.6% in the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after acquiring an additional 493,976 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

K has been the topic of a number of research analyst reports. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a report on Saturday. They issued a “hold” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were 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 SEC, which is available at this link. Over the last three months, insiders sold 1,260,413 shares of company stock worth $103,473,032. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.4 %

Shares of NYSE:K opened at $82.25 on Friday. The firm has a market capitalization of $28.39 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm’s 50-day moving average is $82.31 and its two-hundred day moving average is $81.39.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. Analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

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.