Principal Financial Group Inc. Cuts Holdings in Kellanova (NYSE:K)

Principal Financial Group Inc. decreased its stake in shares of Kellanova (NYSE:K) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,764 shares of the company’s stock after selling 2,028 shares during the quarter. Principal Financial Group Inc.’s holdings in Kellanova were worth $30,102,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at about $27,000. MCF Advisors LLC boosted its position in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Assetmark Inc. boosted its position in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kellanova in the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on K. StockNews.com initiated coverage on Kellanova in a research report on Sunday, February 16th. They issued a “hold” rating for the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research report on Tuesday, February 18th. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares in the company, valued at $3,963,004,221.30. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 1,145,830 shares of company stock valued at $93,291,187. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $82.63 on Friday. The company has a market cap of $28.48 billion, a P/E ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37. 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 has a 52 week low of $52.46 and a 52 week high of $82.72. The business has a fifty day simple moving average of $81.55 and a 200-day simple moving average of $80.65.

Kellanova (NYSE:K) last announced its quarterly earnings data 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%. Equities research analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

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.