Kellanova (NYSE:K) Shares Sold by Greenleaf Trust

Greenleaf Trust lessened its position in Kellanova (NYSE:K) by 4.5% during the fourth quarter, Holdings Channel reports. The fund owned 9,798 shares of the company’s stock after selling 465 shares during the quarter. Greenleaf Trust’s holdings in Kellanova were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Kellanova by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock worth $330,841,000 after acquiring an additional 200,870 shares during the period. Invesco Ltd. increased its holdings in shares of Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after acquiring an additional 1,132,485 shares during the period. Van ECK Associates Corp increased its stake in 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. Northern Trust Corp increased its stake in Kellanova by 8.7% during the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after buying an additional 328,658 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Kellanova by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company’s stock valued at $147,273,000 after buying an additional 61,797 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $57.98 on Tuesday. Kellanova has a one year low of $47.63 and a one year high of $72.30. The company has a 50-day moving average of $55.68 and a two-hundred day moving average of $54.10. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.14 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.

Kellanova (NYSE:K) last announced 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 during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts expect that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

Analysts Set New Price Targets

Several research firms have commented on K. Stifel Nicolaus raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. DA Davidson began coverage on shares of Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 target price on the stock. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.27.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the completion of the sale, the insider now directly owns 52,309,038 shares in the company, valued at $2,767,148,110.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 933,600 shares of company stock worth $51,632,748 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

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.