Kellanova (NYSE:K) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. decreased its position in shares of Kellanova (NYSE:K) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,700 shares of the company’s stock after selling 4,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Kellanova were worth $7,028,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Comerica Bank purchased a new position in Kellanova during the third quarter valued at $4,974,000. Raymond James & Associates grew its position in shares of Kellanova by 11.9% in the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock valued at $22,385,000 after purchasing an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in Kellanova by 25.7% during the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock worth $2,745,000 after buying an additional 9,434 shares in the last quarter. CX Institutional increased its stake in shares of Kellanova by 52.9% in the 4th quarter. CX Institutional now owns 59,975 shares of the company’s stock worth $3,353,000 after acquiring an additional 20,752 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. acquired a new stake in shares of Kellanova during the third quarter valued at about $3,248,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.68, for a total transaction of $4,254,104.00. Following the completion of the transaction, the insider now owns 52,775,838 shares of the company’s stock, valued at $2,885,782,821.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 933,600 shares of company stock worth $51,308,322 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Wells Fargo & Company upped their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Piper Sandler raised their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Citigroup started coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective on the stock. Finally, StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $62.27.

Kellanova Stock Performance

Shares of K stock opened at $55.40 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. The stock has a 50 day simple moving average of $55.43 and a 200-day simple moving average of $54.00.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts forecast that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

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.