Kellanova $K Stake Lessened by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stake in Kellanova by 62.4%, selling 22,066 shares, leaving it with 13,308 shares worth approximately $1.1 million.
• The Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova on August 28 for over $9.1 million, decreasing its ownership by 0.25% while still retaining about 45 million shares.
• Kellanova announced an increase in its quarterly dividend to $0.58 per share, demonstrating a positive change from the previous dividend of $0.57 and resulting in an annual yield of 2.9%.

B. Metzler seel. Sohn & Co. AG reduced its holdings in Kellanova (NYSE:K - Free Report) by 62.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,308 shares of the company's stock after selling 22,066 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Kellanova were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust acquired a new position in Kellanova in the first quarter valued at $25,000. Financial Network Wealth Advisors LLC acquired a new position in Kellanova during the first quarter worth approximately $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova during the first quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new position in Kellanova during the fourth quarter worth approximately $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Kellanova during the fourth quarter worth approximately $42,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares of the company's stock, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 1,260,429 shares of company stock worth $100,650,980. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

K has been the subject of several research analyst reports. Citigroup raised 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. Wall Street Zen lowered Kellanova from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Finally, JPMorgan Chase & Co. began coverage on Kellanova in a research note on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price target for the company. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $83.38.

Kellanova Stock Up 0.7%

Shares of K stock traded up $0.54 during trading hours on Thursday, reaching $79.58. The company had a trading volume of 3,541,431 shares, compared to its average volume of 2,934,204. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a twelve month low of $77.70 and a twelve month high of $83.22. The company has a market capitalization of $27.67 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 4.95 and a beta of 0.27. The stock's fifty day simple moving average is $79.78 and its 200 day simple moving average is $81.25.

Kellanova (NYSE:K - Get Free Report) last posted its 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). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the business posted $1.01 EPS. Kellanova's quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio (DPR) is 59.84%.

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.