Wakefield Asset Management LLLP Reduces Stock Position in Kellanova (NYSE:K)

Wakefield Asset Management LLLP trimmed its position in Kellanova (NYSE:K) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,774 shares of the company’s stock after selling 124 shares during the period. Wakefield Asset Management LLLP’s holdings in Kellanova were worth $629,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Kellanova in a research note on Monday. They set a “hold” rating on the stock. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. 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 research report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Down 0.0 %

Shares of NYSE:K opened at $82.59 on Friday. The company has a market capitalization of $28.51 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The company has a 50 day moving average of $81.72 and a two-hundred day moving average of $80.95. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.85. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

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

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the transaction, the insider now directly owns 48,878,693 shares in the company, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 1,031,247 shares of company stock valued at $83,985,902. 1.80% of the stock is currently owned by corporate insiders.

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.