Signaturefd LLC Decreases Stake in Kellanova (NYSE:K)

Signaturefd LLC lowered its position in Kellanova (NYSE:K) by 1.5% in the fourth quarter, Holdings Channel reports. The fund owned 9,090 shares of the company’s stock after selling 141 shares during the period. Signaturefd LLC’s holdings in Kellanova were worth $736,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in K. Parallel Advisors LLC lifted its position in shares of Kellanova by 7.1% during the 4th quarter. Parallel Advisors LLC now owns 5,417 shares of the company’s stock worth $439,000 after buying an additional 360 shares during the last quarter. Cibc World Markets Corp lifted its position in shares of Kellanova by 538.6% during the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after buying an additional 493,976 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of Kellanova during the 4th quarter worth approximately $39,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Kellanova during the 4th quarter worth approximately $666,000. Finally, Natixis Advisors LLC lifted its position in shares of Kellanova by 13.4% during the 4th quarter. Natixis Advisors LLC now owns 61,483 shares of the company’s stock worth $4,978,000 after buying an additional 7,273 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the transaction, the insider now directly owns 47,618,280 shares of the company’s stock, valued at $3,917,079,712.80. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,099,492 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

Shares of K opened at $82.36 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31. The company’s fifty day moving average is $82.11 and its two-hundred day moving average is $81.23. Kellanova has a 1 year low of $54.70 and a 1 year high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on K. StockNews.com initiated coverage on shares of Kellanova in a research report on Thursday. They set a “hold” rating for the company. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $77.96.

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.