Metis Global Partners LLC Sells 8,774 Shares of Kellanova (NYSE:K)

Metis Global Partners LLC decreased its holdings in Kellanova (NYSE:K) by 31.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,253 shares of the company’s stock after selling 8,774 shares during the quarter. Metis Global Partners LLC’s holdings in Kellanova were worth $1,559,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Investors Research Corp lifted its position in shares of Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after buying an additional 125 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after buying an additional 130 shares in the last quarter. Assetmark Inc. lifted its position in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares in the last quarter. Quent Capital LLC lifted its position in shares of Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after buying an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after buying an additional 145 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on K shares. StockNews.com started coverage on shares of Kellanova in a research note on Tuesday. They set a “hold” rating for the company. 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 research note on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Down 0.4 %

Kellanova stock opened at $82.57 on Tuesday. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.94. The firm has a market capitalization of $28.50 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.37. 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 has a 50 day simple moving average of $81.81 and a 200 day simple moving average of $81.08.

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

Kellanova Announces Dividend

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 given 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 dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the transaction, the insider now directly owns 47,847,446 shares in the company, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,145,830 shares of company stock worth $93,461,916 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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.