Zurcher Kantonalbank Zurich Cantonalbank Sells 12,085 Shares of Kellanova (NYSE:K)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Kellanova (NYSE:K) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,166 shares of the company’s stock after selling 12,085 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Kellanova worth $16,391,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its stake in Kellanova by 114.9% during the fourth quarter. Everence Capital Management Inc. now owns 12,810 shares of the company’s stock worth $716,000 after acquiring an additional 6,850 shares in the last quarter. LifePlan Financial LLC bought a new position in Kellanova during the fourth quarter worth $238,000. London & Capital Asset Management Ltd boosted its stake in Kellanova by 1.6% during the fourth quarter. London & Capital Asset Management Ltd now owns 417,702 shares of the company’s stock worth $23,354,000 after acquiring an additional 6,593 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kellanova by 0.8% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 852,927 shares of the company’s stock worth $47,687,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Kellanova during the fourth quarter worth $889,000. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. DA Davidson assumed coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. Wells Fargo & Company increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.27.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the sale, the insider now directly owns 52,775,838 shares of the company’s stock, valued at $2,885,782,821.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 933,600 shares of company stock worth $51,308,322. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

Shares of NYSE:K opened at $56.54 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $19.32 billion, a PE ratio of 20.56, a P/E/G ratio of 2.10 and a beta of 0.40. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a 50-day moving average price of $55.54 and a two-hundred day moving average price of $54.00.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the business earned $0.94 earnings per share. Kellanova’s revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.96%. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

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.