Focus Partners Wealth Decreases Stock Holdings in Kellanova (NYSE:K)

Focus Partners Wealth reduced its position in shares of Kellanova (NYSE:K - Free Report) by 70.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,284 shares of the company's stock after selling 362,714 shares during the period. Focus Partners Wealth's holdings in Kellanova were worth $12,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Norges Bank bought a new stake in shares of Kellanova during the fourth quarter worth $285,126,000. Franklin Resources Inc. grew its stake in shares of Kellanova by 869.5% in the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after purchasing an additional 2,313,047 shares during the last quarter. FIL Ltd grew its stake in shares of Kellanova by 182.3% in the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after purchasing an additional 1,542,000 shares during the last quarter. Barclays PLC grew its stake in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of Kellanova by 136.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after purchasing an additional 1,006,100 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Kellanova Trading Up 0.2%

Shares of Kellanova stock traded up $0.15 on Friday, hitting $82.28. 3,434,394 shares of the company's stock traded hands, compared to its average volume of 2,723,206. 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 current ratio of 0.81 and a quick ratio of 0.56. The company has a fifty day moving average of $82.37 and a two-hundred day moving average of $81.74. The company has a market capitalization of $28.55 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

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

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's payout ratio is currently 57.58%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on K. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. 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. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and an average target price of $79.41.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 47,732,863 shares of the company's stock, valued at $3,940,347,840.65. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,786,990 over the last ninety days. 1.80% of the stock is currently owned by insiders.

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.