Mutual of America Capital Management LLC Cuts Position in Kellanova (NYSE:K)

Mutual of America Capital Management LLC trimmed its position in Kellanova (NYSE:K) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,390 shares of the company’s stock after selling 1,595 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Kellanova were worth $1,979,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Kellanova during the 4th quarter valued at about $131,663,000. Southeastern Asset Management Inc. TN purchased a new stake in shares of Kellanova during the 1st quarter valued at about $87,611,000. Invesco Ltd. raised its holdings in shares of Kellanova by 29.4% during the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after buying an additional 1,132,485 shares during the period. Van ECK Associates Corp raised its holdings in shares of Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after buying an additional 1,051,922 shares during the period. Finally, Vanguard Group Inc. grew its stake in Kellanova by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock valued at $1,892,981,000 after purchasing an additional 646,828 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Trading Up 1.5 %

NYSE:K opened at $57.38 on Friday. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The firm has a market capitalization of $19.61 billion, a P/E ratio of 20.87, a P/E/G ratio of 2.11 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The business has a 50 day simple moving average of $55.61 and a 200 day simple moving average of $54.04.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.90%. Kellanova’s dividend payout ratio is currently 81.45%.

Analyst Ratings Changes

A number of brokerages have weighed in on K. Barclays raised their price objective on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Citigroup began coverage on Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. Piper Sandler raised their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Stifel Nicolaus raised their price objective on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company raised their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” 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 stock. According to data from MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $62.27.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova 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 sale, the insider now owns 52,775,838 shares of the company’s stock, valued at approximately $2,885,782,821.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 933,600 shares of company stock worth $51,308,322 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Kellanova Company Profile

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.