Bank of New York Mellon Corp Has $132.01 Million Stake in Kellanova (NYSE:K)

Bank of New York Mellon Corp lessened its stake in shares of Kellanova (NYSE:K - Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,600,342 shares of the company's stock after selling 14,846 shares during the quarter. Bank of New York Mellon Corp owned about 0.46% of Kellanova worth $132,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its holdings in Kellanova by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company's stock worth $860,000 after buying an additional 132 shares in the last quarter. OneAscent Financial Services LLC boosted its holdings in Kellanova by 4.7% during the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after buying an additional 149 shares in the last quarter. Legacy Advisors LLC boosted its holdings in Kellanova by 7.1% during the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company's stock worth $222,000 after buying an additional 179 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Kellanova by 2.8% in the 1st quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock valued at $568,000 after acquiring an additional 186 shares in the last quarter. Finally, Humankind Investments LLC lifted its position in shares of Kellanova by 3.9% in the 4th quarter. Humankind Investments LLC now owns 5,117 shares of the company's stock valued at $414,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Up 0.3%

Shares of Kellanova stock traded up $0.28 during midday trading on Thursday, reaching $79.50. 1,175,176 shares of the company's stock traded hands, compared to its average volume of 3,002,136. The company has a market cap of $27.58 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 4.21 and a beta of 0.28. The company's 50 day simple moving average is $81.11 and its 200 day simple moving average is $81.73. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. Kellanova has a 52 week low of $55.96 and a 52 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 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. Equities analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.87%. Kellanova's payout ratio is presently 57.58%.

Analyst Upgrades and Downgrades

K has been the subject of several research analyst reports. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Royal Bank Of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $79.75.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $79.37, for a total value of $9,094,452.71. Following the sale, the insider directly owned 46,014,118 shares in the company, valued at $3,652,140,545.66. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 1,374,996 shares of company stock valued at $111,795,196. Company 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.