Kellanova (NYSE:K) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its stake in shares of Kellanova (NYSE:K) by 21.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,044 shares of the company’s stock after selling 5,250 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Kellanova were worth $1,542,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in K. Vanguard Group Inc. boosted its position in Kellanova by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock worth $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. State Street Corp raised its stake 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 worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after buying an additional 196,564 shares in the last quarter. Barclays PLC boosted its position in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Kellanova by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock valued at $136,103,000 after acquiring an additional 50,303 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the topic of several recent research reports. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com began coverage on Kellanova in a research note on Friday. They issued a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 1,374,996 shares of company stock valued at $112,737,068. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $82.43 on Friday. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The stock’s fifty day simple moving average is $82.24 and its 200-day simple moving average is $81.33. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. Equities research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

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.