Beutel Goodman & Co Ltd. Decreases Holdings in Kellanova (NYSE:K)

Beutel Goodman & Co Ltd. lowered its position in Kellanova (NYSE:K) by 77.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,398,212 shares of the company’s stock after selling 4,934,328 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Kellanova were worth $113,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Norges Bank bought a new stake in shares of Kellanova in the 4th quarter worth approximately $285,126,000. Westchester Capital Management LLC purchased a new stake in Kellanova during the third quarter valued at about $107,795,000. Barclays PLC grew its stake in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. State Street Corp increased its holdings in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the period. Finally, Ilex Capital Partners UK LLP lifted its stake in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after acquiring an additional 632,510 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Trading Down 0.0 %

Shares of K opened at $82.43 on Friday. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm’s 50-day moving average price is $82.24 and its 200-day moving average price is $81.32. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. Sell-side analysts anticipate 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. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 1,374,996 shares of company stock valued at $112,737,068. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com assumed coverage on Kellanova in a research report on Friday. They issued a “hold” rating for the company. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.