Intech Investment Management LLC Has $8.48 Million Stock Holdings in Kellanova (NYSE:K)

Intech Investment Management LLC cut its stake in Kellanova (NYSE:K) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 104,720 shares of the company’s stock after selling 1,726 shares during the period. Intech Investment Management LLC’s holdings in Kellanova were worth $8,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Independent Advisor Alliance lifted its holdings in Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after purchasing an additional 1,019 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of Kellanova during the fourth quarter worth $384,000. 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. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Kellanova in the third quarter valued at about $4,211,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now directly owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 1,260,413 shares of company stock valued at $103,099,492 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.0 %

Shares of K stock opened at $82.36 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a fifty-two week low of $54.47 and a fifty-two week high of $83.22. The company has a market cap of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31. The stock’s fifty day moving average price is $82.09 and its two-hundred day moving average price is $81.22.

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 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 analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is 58.91%.

Analyst Upgrades and Downgrades

Several analysts have weighed in 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 price objective for the company in a research note on Tuesday, February 18th. StockNews.com began coverage on shares of Kellanova in a research report on Wednesday, March 12th. They issued a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Company 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.