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

Bank of New York Mellon Corp reduced its holdings in shares of Kellanova (NYSE:K - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 0.46% of Kellanova worth $132,012,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Grove Bank & Trust acquired a new stake in Kellanova in the first quarter valued at $25,000. MorganRosel Wealth Management LLC acquired a new stake in Kellanova in the first quarter valued at $27,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova in the fourth quarter valued at $32,000. Accredited Wealth Management LLC acquired a new stake in Kellanova in the fourth quarter valued at $36,000. Finally, Twin Tree Management LP acquired a new stake in Kellanova in the fourth quarter valued at $39,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 1,374,996 shares of company stock valued at $111,795,196 in the last ninety days. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

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

Kellanova Price Performance

Shares of NYSE:K traded up $0.42 during trading hours on Thursday, hitting $79.64. 3,316,249 shares of the company's stock traded hands, compared to its average volume of 3,014,121. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The company's fifty day simple moving average is $81.11 and its two-hundred day simple moving average is $81.73. The company has a market cap of $27.63 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 4.20 and a beta of 0.28.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.01 EPS. The business's revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. Kellanova's payout ratio is 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.