Toronto Dominion Bank Sells 24,176 Shares of Kellanova (NYSE:K)

Toronto Dominion Bank cut its position in Kellanova (NYSE:K - Free Report) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,669 shares of the company's stock after selling 24,176 shares during the quarter. Toronto Dominion Bank's holdings in Kellanova were worth $12,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of Kellanova during the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new position in Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new position in Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova during the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. boosted its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after purchasing an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

K has been the subject of several recent research reports. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 target price for the company in a research report on Thursday. Finally, Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. 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, the company has a consensus rating of "Hold" and an average price target of $79.75.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $82.56, for a total value of $9,459,972.48. Following the completion of the transaction, the insider now directly owns 46,816,199 shares in the company, valued at approximately $3,865,145,389.44. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 1,374,996 shares of company stock valued at $113,174,775. 1.80% of the stock is currently owned by insiders.

Kellanova Price Performance

Shares of Kellanova stock traded down $0.51 on Monday, reaching $82.12. 3,118,142 shares of the stock were exchanged, compared to its average volume of 2,767,032. The firm's 50 day moving average is $82.37 and its 200-day moving average is $81.88. Kellanova has a one year low of $55.96 and a one year 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 firm has a market cap of $28.49 billion, a PE ratio of 21.22, a P/E/G ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share 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 the consensus estimate of $3.16 billion. During the same period last year, the company posted $1.01 EPS. The business's revenue was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 currently 57.58%.

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.