USS Investment Management Ltd Sells 59,918 Shares of Kellanova (NYSE:K)

USS Investment Management Ltd reduced its holdings in Kellanova (NYSE:K - Free Report) by 35.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,811 shares of the company's stock after selling 59,918 shares during the period. USS Investment Management Ltd's holdings in Kellanova were worth $8,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of K. Independent Advisor Alliance lifted its stake in shares of 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 purchasing an additional 1,019 shares during the period. Aviva PLC grew its stake in shares of Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after purchasing an additional 13,531 shares during the period. Barclays PLC increased its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Alpine Associates Management Inc. increased its holdings in Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock valued at $49,622,000 after purchasing an additional 296,150 shares during the last quarter. Finally, Decagon Asset Management LLP acquired a new position in Kellanova in the fourth quarter valued at about $10,125,000. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on K. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Wall Street Zen lowered 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $79.41.

Kellanova Stock Up 0.0%

K traded up $0.02 during trading on Tuesday, reaching $82.41. The company had a trading volume of 1,484,313 shares, compared to its average volume of 2,755,933. The company has a market cap of $28.59 billion, a P/E ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.30. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. 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 business's fifty day moving average price is $82.37 and its 200 day moving average price is $81.83.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 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 analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company's revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. Equities analysts anticipate 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's dividend payout ratio is currently 57.58%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction 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 sale, the insider now directly owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. The trade was a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 1,374,996 shares of company stock worth $113,210,296. 1.80% of the stock is owned by corporate insiders.

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.