Comerica Bank Sells 3,504 Shares of Kellanova (NYSE:K)

Comerica Bank cut its holdings in Kellanova (NYSE:K - Free Report) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,660 shares of the company's stock after selling 3,504 shares during the period. Comerica Bank's holdings in Kellanova were worth $5,397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of K. Independent Advisor Alliance raised its stake in Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after acquiring an additional 1,019 shares during the period. Aviva PLC lifted its stake in shares of Kellanova by 2.6% during the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after buying an additional 13,531 shares in the last quarter. Wedmont Private Capital bought a new position in Kellanova in the 4th quarter worth $384,000. FNY Investment Advisers LLC purchased a new stake in Kellanova in the 4th quarter worth $2,490,000. Finally, Barclays PLC raised its holdings in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Institutional investors own 83.87% of the company's stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares of the company's stock, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 1,260,413 shares of company stock worth $103,801,886 in the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

NYSE:K opened at $82.61 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock's fifty day moving average is $82.40 and its 200 day moving average is $81.67. The firm has a market capitalization of $28.52 billion, a PE ratio of 21.35, a PEG ratio of 4.21 and a beta of 0.30. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio is currently 57.58%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $79.41.

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.

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