Kellanova (NYSE:K) Shares Sold by Factorial Partners LLC

Key Points

• Factorial Partners LLC reduced its stake in Kellanova by 45.1% during Q1, now owning 10,000 shares valued at approximately $825,000.
• Kellanova's major shareholder, the Kellogg W. K. Foundation Trust, sold 114,583 shares recently, reducing its position by 0.25% but still retains over 45 million shares valued at around $3.63 billion.
• Kellanova announced a quarterly dividend of $0.58 per share, representing a slight increase from the previous dividend and yielding 2.9% annually.

Factorial Partners LLC cut its holdings in shares of Kellanova (NYSE:K - Free Report) by 45.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,000 shares of the company's stock after selling 8,200 shares during the quarter. Factorial Partners LLC's holdings in Kellanova were worth $825,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Keybank National Association OH increased its position in Kellanova by 0.7% during the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock valued at $1,626,579,000 after purchasing an additional 128,439 shares during the period. Pentwater Capital Management LP raised its holdings in Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after purchasing an additional 450,700 shares in the last quarter. Invesco Ltd. raised its holdings in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after purchasing an additional 111,396 shares in the last quarter. Northern Trust Corp raised its holdings in Kellanova by 15.7% in the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock worth $315,613,000 after purchasing an additional 530,132 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Kellanova by 3.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,661,225 shares of the company's stock worth $215,479,000 after purchasing an additional 86,293 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $79.79, for a total transaction of $9,142,577.57. Following the transaction, the insider owned 45,555,786 shares in the company, valued at approximately $3,634,896,164.94. 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 accessible through this link. Insiders sold 1,260,413 shares of company stock worth $101,431,163 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a report on Thursday, May 29th. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Twelve investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $81.80.

Kellanova Price Performance

Shares of NYSE K traded up $0.24 during midday trading on Thursday, reaching $80.08. 2,122,319 shares of the stock traded hands, compared to its average volume of 2,625,710. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The stock has a market capitalization of $27.84 billion, a PE ratio of 21.02, a P/E/G ratio of 4.95 and a beta of 0.27. Kellanova has a one year low of $72.27 and a one year high of $83.22. The company's 50 day moving average is $80.09 and its 200 day moving average is $81.54.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%. The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.9%. This is an increase from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio (DPR) is 59.84%.

Kellanova Company 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.