Kellanova (NYSE:K) Stake Decreased by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its position in shares of Kellanova (NYSE:K) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,528 shares of the company’s stock after selling 30,717 shares during the period. Vontobel Holding Ltd. owned 0.07% of Kellanova worth $13,616,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. grew its position in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Norwood Financial Corp grew its position in Kellanova by 81.8% during the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares in the last quarter. Cowa LLC purchased a new stake in shares of Kellanova in the first quarter valued at $33,000. Finally, Blue Trust Inc. lifted its holdings in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 0.0 %

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

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid 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 of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, April 8th. The shares were sold at an average price of $57.46, for a total transaction of $4,470,388.00. Following the completion of the sale, the insider now owns 52,075,638 shares of the company’s stock, valued at approximately $2,992,266,159.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 933,600 shares of company stock worth $51,308,322. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the subject of a number of research analyst reports. Citigroup initiated coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. Stifel Nicolaus increased their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Barclays upped their price target on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.27.

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.