Kellanova (NYSE:K) Shares Sold by Axa S.A.

Axa S.A. lowered its position in shares of Kellanova (NYSE:K - Free Report) by 88.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,681 shares of the company's stock after selling 41,707 shares during the period. Axa S.A.'s holdings in Kellanova were worth $460,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. grew its stake in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $82.03, for a total value of $9,399,243.49. Following the sale, the insider now directly owns 47,274,531 shares of the company's stock, valued at approximately $3,877,929,777.93. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 1,374,996 shares of company stock worth $113,261,858. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

NYSE K opened at $82.50 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The business's 50 day moving average is $82.39 and its two-hundred day moving average is $81.70. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.32, 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.

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 the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova's dividend payout ratio 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.

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