Shell Asset Management Co. Trims Position in Kellanova (NYSE:K)

Shell Asset Management Co. lowered its stake in shares of Kellanova (NYSE:K - Free Report) by 64.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,144 shares of the company's stock after selling 16,284 shares during the period. Shell Asset Management Co.'s holdings in Kellanova were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in K. Stonebridge Financial Group LLC bought a new position in shares of Kellanova in the fourth quarter valued at $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. boosted its stake in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the completion of the transaction, the insider now directly owns 47,732,863 shares of the company's stock, valued at approximately $3,940,347,840.65. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 1,374,996 shares of company stock worth $113,210,296. Insiders own 1.80% of the company's stock.

Kellanova Stock Performance

Shares of NYSE K traded down $0.01 during mid-day trading on Thursday, reaching $82.12. 2,122,272 shares of the company's stock were exchanged, compared to its average volume of 2,749,322. The firm has a 50-day moving average price of $82.37 and a two-hundred day moving average price of $81.78. 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 firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data 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). 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 business's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.78%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Analyst Ratings Changes

Several research analysts recently issued reports on K shares. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a research 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. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $79.41.

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.