Kellanova (NYSE:K) Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in shares of Kellanova (NYSE:K) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 49,321 shares of the company’s stock after selling 399 shares during the period. US Bancorp DE’s holdings in Kellanova were worth $3,994,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC acquired a new position in Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova in the fourth quarter valued at about $28,000. First Horizon Advisors Inc. raised its position in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 shares during the last quarter. Assetmark Inc. raised its position in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kellanova in the third quarter valued at about $55,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Up 0.0 %

Shares of K stock opened at $82.37 on Thursday. 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 firm has a market cap of $28.43 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The company has a 50-day moving average of $81.87 and a two-hundred day moving average of $81.10. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22.

Kellanova (NYSE:K) last announced its 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 net margin of 10.53% and a return on equity of 37.25%. On average, analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced 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. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the transaction, the insider now owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 1,145,830 shares of company stock valued at $93,461,916 over the last 90 days. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Kellanova Profile

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.