Gotham Asset Management LLC Sells 26,580 Shares of Kellanova (NYSE:K)

Gotham Asset Management LLC reduced its stake in shares of Kellanova (NYSE:K - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,203 shares of the company's stock after selling 26,580 shares during the quarter. Gotham Asset Management LLC's holdings in Kellanova were worth $10,462,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Independent Advisor Alliance boosted its stake in Kellanova by 16.5% during 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 in the last quarter. Aviva PLC boosted its stake in Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after buying an additional 13,531 shares in the last quarter. Wedmont Private Capital acquired a new position in Kellanova during the fourth quarter worth about $384,000. FNY Investment Advisers LLC bought a new stake in Kellanova in the fourth quarter worth about $2,490,000. Finally, Barclays PLC lifted its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $82.70, for a total value of $9,476,014.10. Following the transaction, the insider now directly owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 1,374,996 shares of company stock valued at $113,211,441 over the last three months. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Up 0.4%

K traded up $0.31 on Thursday, reaching $82.11. 6,833,159 shares of the company traded hands, compared to its average volume of 2,714,643. The company has a market cap of $28.49 billion, a price-to-earnings ratio of 21.22, a PEG 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. The stock's 50 day moving average price is $82.37 and its 200-day moving average price is $81.72. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion for 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 firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the business earned $1.01 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. Kellanova's dividend payout ratio is presently 57.58%.

Analysts Set New Price Targets

Several research firms recently commented on K. StockNews.com 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 report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Kellanova has an average rating of "Hold" and a consensus price target of $79.41.

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.