Kellanova (NYSE:K) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its position in Kellanova (NYSE:K) by 36.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 148,089 shares of the company’s stock after selling 85,237 shares during the period. Prudential Financial Inc.’s holdings in Kellanova were worth $11,991,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Independent Advisor Alliance grew its stake in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after acquiring an additional 1,019 shares during the period. Toronto Dominion Bank boosted 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 purchasing an additional 8,686 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Kellanova in the fourth quarter valued at $384,000. Barclays PLC increased its stake in 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 purchasing an additional 1,033,383 shares during the last quarter. Finally, Alpine Associates Management Inc. lifted its position in Kellanova by 93.5% during the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock worth $49,622,000 after buying an additional 296,150 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now directly owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,374,996 shares of company stock valued at $112,737,068 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Kellanova Price Performance

Kellanova stock opened at $82.43 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.45 billion, a P/E ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. The firm has a fifty day moving average of $82.24 and a 200-day moving average of $81.32. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS 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%. As a group, analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. 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 presently 58.91%.

Analyst Upgrades and Downgrades

K has been the subject of several recent analyst reports. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com initiated coverage on shares of Kellanova in a research report on Friday. They issued a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.96.

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.