Kellanova (NYSE:K) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its position in shares of Kellanova (NYSE:K - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 632,578 shares of the company's stock after selling 31,383 shares during the quarter. Nuveen Asset Management LLC owned 0.18% of Kellanova worth $51,220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Independent Advisor Alliance grew its stake in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after acquiring an additional 1,019 shares during the period. Aviva PLC grew its stake in Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after acquiring an additional 13,531 shares during the period. Barclays PLC grew its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Alpine Associates Management Inc. grew its stake in Kellanova by 93.5% in the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock valued at $49,622,000 after acquiring an additional 296,150 shares during the period. Finally, Decagon Asset Management LLP acquired a new stake in Kellanova in the 4th quarter valued at $10,125,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on K shares. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $79.41.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the completion of the sale, the insider now owns 47,732,863 shares in the company, valued at $3,940,347,840.65. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,260,413 shares of company stock valued at $103,786,990. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Up 0.1%

Shares of K stock opened at $82.40 on Tuesday. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock's fifty day moving average is $82.37 and its two-hundred day moving average is $81.77. The firm has a market capitalization of $28.59 billion, a P/E ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm's revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. Research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio is presently 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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