Securian Asset Management Inc. Sells 2,305 Shares of Kellanova (NYSE:K)

Securian Asset Management Inc. reduced its position in Kellanova (NYSE:K) by 12.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,611 shares of the company’s stock after selling 2,305 shares during the quarter. Securian Asset Management Inc.’s holdings in Kellanova were worth $929,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after buying an additional 98,294 shares in the last quarter. Invesco Ltd. raised 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 last quarter. Van ECK Associates Corp lifted its position in Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after acquiring an additional 1,051,922 shares in the last quarter. Northern Trust Corp boosted 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 purchasing an additional 328,658 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Kellanova by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after purchasing an additional 9,726 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. TD Cowen upped their target price on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Piper Sandler raised their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Barclays upped their price objective on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Finally, DA Davidson increased their price objective on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.85.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the sale, the insider now owns 51,686,638 shares of the company’s stock, valued at approximately $3,220,594,413.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the sale, the insider now directly owns 51,686,638 shares in the company, valued at approximately $3,220,594,413.78. The disclosure for this sale can be found here. Insiders sold 943,400 shares of company stock worth $54,183,354 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Kellanova stock opened at $62.25 on Wednesday. The business’s 50 day simple moving average is $57.98 and its 200 day simple moving average is $55.60. Kellanova has a 12 month low of $47.63 and a 12 month high of $69.61. The company has a market cap of $21.28 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.20 and a beta of 0.39. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 earnings per share. Sell-side analysts forecast that Kellanova will post 3.62 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.60%. Kellanova’s dividend payout ratio is presently 83.90%.

Kellanova 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.