Berkshire Asset Management LLC PA Trims Holdings in Kellanova (NYSE:K)

Berkshire Asset Management LLC PA reduced its stake in shares of Kellanova (NYSE:K) by 26.6% in the fourth quarter, Holdings Channel reports. The firm owned 6,537 shares of the company’s stock after selling 2,364 shares during the period. Berkshire Asset Management LLC PA’s holdings in Kellanova were worth $535,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Westchester Capital Management LLC bought a new stake in Kellanova during the 3rd quarter valued at $107,795,000. Barclays PLC increased 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 period. State Street Corp raised 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 valued at $1,188,489,000 after acquiring an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP lifted its stake in 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 period. Finally, Syquant Capital Sas bought a new position in Kellanova during the 4th quarter worth about $29,595,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $82.55, for a total value of $9,458,826.65. Following the sale, the insider now owns 47,732,863 shares in the company, valued at $3,940,347,840.65. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,260,413 shares of company stock valued at $102,920,742. Insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.0 %

Kellanova stock opened at $82.45 on Friday. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22. The business has a fifty day moving average price of $81.92 and a 200-day moving average price of $81.12. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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