KBC Group NV Reduces Holdings in Kellanova (NYSE:K)

KBC Group NV cut its holdings in Kellanova (NYSE:K - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,364 shares of the company's stock after selling 6,673 shares during the period. KBC Group NV's holdings in Kellanova were worth $5,227,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in K. Y Intercept Hong Kong Ltd purchased a new stake in shares of Kellanova in the fourth quarter worth $265,000. QRG Capital Management Inc. grew its holdings in shares of Kellanova by 34.5% in the fourth quarter. QRG Capital Management Inc. now owns 9,062 shares of the company's stock worth $734,000 after purchasing an additional 2,323 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Kellanova by 127.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,105 shares of the company's stock valued at $89,000 after acquiring an additional 619 shares during the last quarter. Jones Financial Companies Lllp increased its position in Kellanova by 41.7% during the 4th quarter. Jones Financial Companies Lllp now owns 57,568 shares of the company's stock valued at $4,661,000 after purchasing an additional 16,950 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Kellanova in the fourth quarter worth about $341,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on K. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank Of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price objective on the stock in a research report on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and an average target price of $79.75.

Insider Buying and Selling 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 23rd. The shares were sold at an average price of $78.42, for a total value of $8,985,598.86. Following the completion of the sale, the insider owned 46,128,701 shares of the company's stock, valued at $3,617,412,732.42. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 1,374,996 shares of company stock worth $112,064,466. Insiders own 1.80% of the company's stock.

Kellanova Stock Performance

Shares of NYSE K opened at $79.96 on Thursday. The stock has a market cap of $27.74 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 4.18 and a beta of 0.28. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The firm has a fifty day moving average price of $81.41 and a 200-day moving average price of $81.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52.

Kellanova (NYSE:K - Get Free Report) last issued 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). 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 period last year, the business posted $1.01 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Kellanova's payout ratio is currently 57.58%.

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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