PNC Financial Services Group Inc. Sells 991 Shares of Kellanova (NYSE:K)

PNC Financial Services Group Inc. reduced its holdings in Kellanova (NYSE:K) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,201 shares of the company’s stock after selling 991 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kellanova were worth $6,089,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after purchasing an additional 196,564 shares in the last quarter. Barclays PLC boosted its position in shares of Kellanova by 134.7% during the third 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. Charles Schwab Investment Management Inc. boosted its position in shares of Kellanova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock valued at $136,103,000 after purchasing an additional 50,303 shares in the last quarter. Finally, Ilex Capital Partners UK LLP boosted its position in shares of Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after purchasing an additional 632,510 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Trading Up 0.1 %

Shares of NYSE:K opened at $82.29 on Thursday. The company has a market cap of $28.41 billion, a P/E ratio of 21.26, a PEG ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1 year low of $52.46 and a 1 year high of $83.22. The stock’s fifty day moving average price is $82.00 and its 200-day moving average price is $81.17.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s dividend payout ratio is 58.91%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on K shares. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research note on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a research note on Wednesday. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated 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 owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $93,673,894. 1.80% of the stock is owned by company insiders.

Kellanova 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.