Gateway Investment Advisers LLC trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 32.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,622 shares of the company's stock after selling 6,128 shares during the quarter. Gateway Investment Advisers LLC's holdings in Kellanova were worth $1,022,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of K. American Century Companies Inc. boosted its stake in Kellanova by 14.7% in the second quarter. American Century Companies Inc. now owns 36,893 shares of the company's stock valued at $2,128,000 after acquiring an additional 4,737 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Kellanova by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company's stock valued at $12,175,000 after purchasing an additional 4,566 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company's stock valued at $150,909,000 after purchasing an additional 277,171 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Kellanova by 15.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 46,285 shares of the company's stock worth $2,669,000 after buying an additional 6,252 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Kellanova by 4.1% in the second quarter. Blair William & Co. IL now owns 31,407 shares of the company's stock valued at $1,812,000 after buying an additional 1,232 shares during the period. 83.87% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on K. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on shares of Kellanova in a research note on Wednesday. They set a "hold" rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $76.35.
Check Out Our Latest Analysis on K
Shares of NYSE K traded up $0.17 during trading hours on Friday, reaching $81.73. 2,647,218 shares of the stock traded hands, compared to its average volume of 1,723,373. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.79. The company has a market capitalization of $28.17 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. The company's 50-day simple moving average is $80.95 and its two-hundred day simple moving average is $76.41. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.
Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. Equities research analysts forecast that Kellanova will post 3.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.79%. Kellanova's dividend payout ratio (DPR) is currently 78.35%.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 1,031,247 shares of company stock worth $83,509,236. 1.80% of the stock is currently owned by insiders.
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.
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