Handelsbanken Fonder AB Sells 5,849 Shares of Kellanova (NYSE:K)

Handelsbanken Fonder AB reduced its position in shares of Kellanova (NYSE:K) by 4.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 126,002 shares of the company’s stock after selling 5,849 shares during the quarter. Handelsbanken Fonder AB’s holdings in Kellanova were worth $10,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of K. Westchester Capital Management LLC acquired a new stake in Kellanova in the 3rd quarter valued at approximately $107,795,000. Barclays PLC boosted its position in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. State Street Corp boosted its position 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 valued at $1,188,489,000 after acquiring an additional 731,273 shares during the period. Ilex Capital Partners UK LLP grew its stake in shares of Kellanova by 63.8% in the third 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 during the last quarter. Finally, Syquant Capital Sas bought a new position in Kellanova during the fourth quarter worth $29,595,000. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on K shares. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. 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 report on Tuesday, February 18th. Finally, StockNews.com began coverage on Kellanova in a report on Sunday, February 16th. They issued a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the sale, the insider now directly owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,145,830 shares of company stock worth $93,291,187 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.2 %

Shares of K opened at $82.63 on Friday. The stock has a 50 day simple moving average of $81.55 and a 200-day simple moving average of $80.65. 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 stock has a market cap of $28.48 billion, a PE ratio of 21.35, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.72.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. On average, sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

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.