Kellanova (NYSE:K) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Kellanova (NYSE:K) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,631 shares of the company’s stock after selling 2,898 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kellanova were worth $1,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the 4th quarter valued at $27,000. MCF Advisors LLC increased its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the period. Assetmark Inc. boosted its holdings in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Kellanova in the third quarter valued at about $55,000. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

NYSE K opened at $82.63 on Monday. The company’s 50 day moving average is $81.55 and its 200-day moving average is $80.76. 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 cap of $28.48 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.72.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on K. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Kellanova in a research report on Monday. They set a “hold” rating on the stock. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.96.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total value of $9,246,848.10. Following the completion of the transaction, the insider now directly owns 49,107,859 shares in the company, valued at $3,963,004,221.30. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $93,291,187 in the last quarter. Company insiders own 1.80% of the company’s stock.

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.