Royal London Asset Management Ltd. Lowers Stock Position in Kellanova (NYSE:K)

Royal London Asset Management Ltd. lessened its holdings in Kellanova (NYSE:K) by 1.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 139,264 shares of the company’s stock after selling 2,312 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Kellanova were worth $11,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in K. State Street Corp boosted its stake in shares of 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 acquiring an additional 731,273 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares in the last quarter. Barclays PLC boosted its stake in shares of 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 acquiring an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Kellanova by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after acquiring an additional 50,303 shares in the last quarter. Finally, Ilex Capital Partners UK LLP boosted its stake in shares of 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 acquiring an additional 632,510 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 0.1 %

Shares of K opened at $82.40 on Friday. The stock has a fifty day moving average of $82.14 and a two-hundred day moving average of $81.25. 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 company has a market capitalization of $28.44 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued 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 payout ratio is 58.91%.

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 Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 1,374,996 shares of company stock worth $112,530,818 in the last ninety days. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com assumed coverage on Kellanova in a research report on Thursday. They set a “hold” rating for the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.