Kellanova (NYSE:K) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. trimmed its holdings in Kellanova (NYSE:K - Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,200 shares of the company's stock after selling 8,000 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Kellanova were worth $8,183,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in Kellanova in the 4th quarter valued at $285,126,000. Franklin Resources Inc. boosted its position in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after purchasing an additional 2,313,047 shares in the last quarter. FIL Ltd boosted its position in shares of Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after purchasing an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Kellanova by 136.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after purchasing an additional 1,006,100 shares in the last quarter. Finally, TIG Advisors LLC boosted its position in shares of Kellanova by 76.5% during the 4th quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock worth $152,084,000 after purchasing an additional 813,901 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on K shares. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research note on Thursday, May 29th. Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kellanova has an average rating of "Hold" and a consensus target price of $79.75.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the completion of the sale, the insider now owns 47,503,697 shares in the company, valued at approximately $3,910,029,300.07. The trade was a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 1,374,996 shares of company stock worth $112,861,963. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Up 0.5%

NYSE K opened at $80.29 on Tuesday. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a 50-day moving average of $82.19 and a 200-day moving average of $81.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a market cap of $27.86 billion, a P/E ratio of 20.75, a P/E/G ratio of 4.21 and a beta of 0.30.

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 analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.84%. Kellanova's payout ratio is currently 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.

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