Hartford Investment Management Co. Reduces Stock Position in Kellanova (NYSE:K)

Hartford Investment Management Co. cut its holdings in shares of Kellanova (NYSE:K) by 1.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,586 shares of the company’s stock after selling 320 shares during the quarter. Hartford Investment Management Co.’s holdings in Kellanova were worth $1,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of K. State Street Corp increased its holdings in shares of Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after acquiring an additional 731,273 shares during the last quarter. Geode Capital Management LLC boosted its position in Kellanova by 3.0% during the 3rd 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 during the period. Barclays PLC boosted its position 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 during the period. Charles Schwab Investment Management Inc. boosted its position in Kellanova by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after purchasing an additional 35,268 shares during the period. Finally, Ilex Capital Partners UK LLP boosted its position in Kellanova by 63.8% during the 3rd 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 during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on K shares. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. StockNews.com initiated coverage on Kellanova in a research report on Saturday, February 8th. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Trading Up 0.1 %

Shares of Kellanova stock opened at $82.26 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market cap of $28.35 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.53 and a beta of 0.37. The business has a fifty day simple moving average of $81.34 and a 200-day simple moving average of $79.84. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.41.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share 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 analysts forecast that Kellanova will post 3.91 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 1,260,413 shares of company stock valued at $102,571,264 over 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.