Ameriprise Financial Inc. Sells 563,725 Shares of Kellanova (NYSE:K)

Ameriprise Financial Inc. cut its holdings in Kellanova (NYSE:K - Free Report) by 51.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 533,560 shares of the company's stock after selling 563,725 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.15% of Kellanova worth $43,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after purchasing an additional 281,137 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after buying an additional 158,560 shares during the last quarter. Pentwater Capital Management LP increased its stake in shares of Kellanova by 8.5% in the fourth quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock valued at $465,982,000 after buying an additional 450,700 shares during the period. Invesco Ltd. lifted its stake in shares of Kellanova by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after acquiring an additional 111,396 shares during the period. Finally, Northern Trust Corp boosted its holdings in Kellanova by 15.7% in the fourth quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after acquiring an additional 530,132 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

K has been the subject of several analyst reports. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $79.41.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the sale, the insider now owns 47,847,446 shares in the company, valued at $3,956,983,784.20. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 1,374,996 shares of company stock valued at $113,211,441. 1.80% of the stock is owned by company insiders.

Kellanova Stock Down 0.4%

Shares of NYSE K traded down $0.31 during midday trading on Wednesday, hitting $81.80. 4,200,076 shares of the stock traded hands, compared to its average volume of 2,694,674. Kellanova has a one year low of $55.96 and a one year high of $83.22. The company has a market cap of $28.38 billion, a PE ratio of 21.14, a P/E/G ratio of 4.21 and a beta of 0.30. The business has a 50 day moving average price of $82.39 and a two-hundred day moving average price of $81.72. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business's revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, equities analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. Kellanova's dividend payout ratio is currently 57.58%.

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.