Schroder Investment Management Group Lowers Stock Position in Kellanova (NYSE:K)

Schroder Investment Management Group lessened its position in shares of Kellanova (NYSE:K) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 24,957 shares of the company’s stock after selling 174 shares during the period. Schroder Investment Management Group’s holdings in Kellanova were worth $2,017,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Kellanova during the 4th quarter valued at approximately $285,126,000. Barclays PLC raised its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the period. State Street Corp lifted its holdings in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Cibc World Markets Corp grew its position in shares of Kellanova by 538.6% in the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after purchasing an additional 493,976 shares during the period. Finally, Syquant Capital Sas acquired a new stake in Kellanova in the 4th quarter worth about $29,595,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on K. StockNews.com initiated coverage on Kellanova in a research report on Saturday. They issued a “hold” rating on the stock. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Down 0.4 %

NYSE:K opened at $82.25 on Monday. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The stock’s fifty day moving average is $82.31 and its two-hundred day moving average is $81.40. The stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. 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 Kellanova stock in a transaction on Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the completion of the sale, the insider now directly owns 47,389,114 shares of the company’s stock, valued at approximately $3,906,758,558.16. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $103,473,032 over the last 90 days. Corporate 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.