National Pension Service Has $37.04 Million Holdings in Kellanova (NYSE:K)

National Pension Service cut its stake in Kellanova (NYSE:K) by 12.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 457,470 shares of the company’s stock after selling 65,378 shares during the quarter. National Pension Service’s holdings in Kellanova were worth $37,041,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank raised its holdings in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. Wedmont Private Capital acquired a new position in shares of Kellanova in the 4th quarter worth approximately $384,000. Barclays PLC increased its holdings in 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 purchasing an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Kellanova during the 3rd quarter valued at $4,211,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Up 0.5 %

NYSE K opened at $82.90 on Friday. The stock has a fifty day moving average of $81.77 and a 200-day moving average of $80.96. The stock has a market capitalization of $28.62 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.94. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. Kellanova’s dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. StockNews.com assumed coverage on Kellanova in a report on Monday, February 24th. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a report on Tuesday, February 18th. Thirteen 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 data from MarketBeat, the company has an average rating of “Hold” and an average target price of $77.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 47,847,446 shares in the company, valued at $3,956,983,784.20. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,145,830 shares of company stock worth $93,461,916 in the last three months. Insiders own 1.80% of the company’s stock.

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.