Deutsche Bank AG Decreases Position in Kellanova (NYSE:K)

Deutsche Bank AG reduced its stake in Kellanova (NYSE:K - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,713,673 shares of the company's stock after selling 94,773 shares during the quarter. Deutsche Bank AG owned about 0.50% of Kellanova worth $138,756,000 as of its most recent SEC filing.

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

Kellanova Stock Down 0.4%

Shares of K traded down $0.31 during midday trading on Wednesday, hitting $81.80. The stock had a trading volume of 4,200,076 shares, compared to its average volume of 2,698,166. The company has a 50 day simple moving average of $82.39 and a two-hundred day simple moving average of $81.72. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The firm has a market cap of $28.38 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the business earned $1.01 EPS. Kellanova's revenue was down 3.7% on a year-over-year basis. On average, analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared 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 2.79%. Kellanova's payout ratio is 57.58%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Kellanova presently has a consensus rating of "Hold" and an average target price of $79.41.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the sale, the insider now owns 47,847,446 shares of the company's stock, valued at approximately $3,956,983,784.20. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,374,996 shares of company stock worth $113,211,441 over the last three months. Corporate insiders own 1.80% of the company's stock.

About Kellanova

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.