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

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Oregon Public Employees Retirement Fund raised its stake in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after purchasing an additional 130 shares during the period. Quent Capital LLC increased its holdings in Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company's stock worth $67,000 after buying an additional 140 shares during the last quarter. OneAscent Financial Services LLC raised its position in Kellanova by 4.7% in the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after acquiring an additional 149 shares during the period. SPC Financial Inc. raised its position in Kellanova by 5.7% in the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock worth $241,000 after acquiring an additional 160 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in Kellanova by 0.7% in the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company's stock valued at $1,820,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

K has been the subject of several research analyst reports. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $79.41.

Kellanova Stock Performance

Shares of NYSE:K traded up $0.31 during trading on Monday, hitting $82.39. 2,202,389 shares of the company were exchanged, compared to its average volume of 2,760,757. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The stock has a 50 day moving average of $82.37 and a 200 day moving average of $81.82. 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 $28.58 billion, a PE ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last released 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). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $82.55, for a total value of $9,458,826.65. Following the sale, the insider now owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 1,374,996 shares of company stock valued at $113,210,296. Corporate insiders own 1.80% of the company's stock.

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.