New York Life Investment Management LLC Reduces Position in Kellanova (NYSE:K)

New York Life Investment Management LLC lessened its holdings in shares of Kellanova (NYSE:K) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,555 shares of the company’s stock after selling 6,781 shares during the quarter. New York Life Investment Management LLC’s holdings in Kellanova were worth $2,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the transaction, the insider now owns 52,620,238 shares of the company’s stock, valued at $2,824,128,173.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 933,600 shares of company stock valued at $51,891,044. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of several research reports. Citigroup initiated coverage on shares of Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. 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. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Barclays raised their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.15.

Kellanova Trading Down 1.3 %

Shares of Kellanova stock opened at $60.51 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a fifty day moving average price of $56.23 and a 200 day moving average price of $54.65. Kellanova has a 1 year low of $47.63 and a 1 year high of $71.53. The stock has a market cap of $20.69 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the company posted $1.10 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.70%. Kellanova’s payout ratio is 83.90%.

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.