Anchor Capital Advisors LLC Reduces Position in Kellanova (NYSE:K)

Anchor Capital Advisors LLC decreased its holdings in shares of Kellanova (NYSE:K) by 9.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,810 shares of the company’s stock after selling 805 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Kellanova were worth $632,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of K. State Street Corp boosted 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 acquiring an additional 731,273 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 196,564 shares during the last quarter. Barclays PLC boosted its position in shares of 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 acquiring an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 acquiring an additional 35,268 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its position in shares of 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 acquiring an additional 632,510 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.5 %

Shares of K opened at $82.90 on Friday. The stock has a market capitalization of $28.62 billion, a PE ratio of 21.42, a P/E/G ratio of 4.21 and a beta of 0.37. Kellanova has a 1 year low of $52.46 and a 1 year 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. The company’s 50-day simple moving average is $81.77 and its 200-day simple moving average is $80.96.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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 forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm 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 dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. Kellanova’s dividend payout ratio is presently 58.91%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,145,830 shares of company stock valued at $93,461,916. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research report on Monday, February 24th. They set a “hold” rating on the stock. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research report on Tuesday, February 18th. Finally, BNP Paribas cut shares of 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. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $77.96.

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.