Bank Julius Baer & Co. Ltd Zurich Cuts Position in Kellanova (NYSE:K)

Bank Julius Baer & Co. Ltd Zurich decreased its stake in Kellanova (NYSE:K) by 77.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 766 shares of the company’s stock after selling 2,640 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Kellanova were worth $43,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oakworth Capital Inc. lifted its stake in shares of Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after acquiring an additional 341 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after acquiring an additional 928 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd lifted its stake in shares of Kellanova by 1,450.0% during the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock worth $92,000 after acquiring an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 1.2 %

K opened at $57.73 on Monday. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The stock has a fifty day moving average price of $55.96 and a 200-day moving average price of $54.33. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.21 and a beta of 0.40.

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

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.88%. Kellanova’s dividend payout ratio (DPR) is 81.45%.

Analyst Upgrades and Downgrades

K has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Barclays lifted their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Stifel Nicolaus lifted their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $62.27.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the transaction, the insider now directly owns 52,309,038 shares in the company, valued at approximately $2,767,148,110.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 855,800 shares of company stock worth $47,378,644 in the last ninety days. 1.80% of the stock is owned by 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.