Sigma Planning Corp trimmed its stake in Kellanova (NYSE:K – Free Report) by 22.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,526 shares of the company’s stock after selling 7,243 shares during the period. Sigma Planning Corp’s holdings in Kellanova were worth $2,067,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Westchester Capital Management LLC purchased a new position in shares of Kellanova in the third quarter worth approximately $107,795,000. Barclays PLC grew its position in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. State Street Corp grew its position in Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP grew its position in Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas purchased a new position in shares of Kellanova during the fourth quarter valued at $29,595,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.
Kellanova Stock Performance
K stock opened at $82.63 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.72. The firm has a 50 day moving average of $81.55 and a two-hundred day moving average of $80.76.
Kellanova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.
Insiders Place Their Bets
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the sale, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,145,830 shares of company stock valued at $93,291,187 over the last 90 days. 1.80% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com began coverage on shares of Kellanova in a research report on Monday. They set a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.96.
Read Our Latest Analysis on Kellanova
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.
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