Allspring Global Investments Holdings LLC Lowers Holdings in Kellanova (NYSE:K)

Allspring Global Investments Holdings LLC reduced its stake in shares of Kellanova (NYSE:K - Free Report) by 31.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 361,623 shares of the company's stock after selling 162,762 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.11% of Kellanova worth $20,218,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Kellanova by 1.2% in the first quarter. BlackRock Inc. now owns 31,697,821 shares of the company's stock valued at $2,122,486,000 after purchasing an additional 369,648 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Kellanova by 2.3% in the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company's stock valued at $1,892,981,000 after buying an additional 646,828 shares in the last quarter. State Street Corp grew its stake in shares of Kellanova by 2.6% in the first quarter. State Street Corp now owns 14,696,120 shares of the company's stock valued at $947,753,000 after buying an additional 369,620 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kellanova by 2.9% in the first quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company's stock valued at $378,150,000 after buying an additional 159,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Kellanova by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company's stock valued at $330,841,000 after buying an additional 200,870 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

K has been the subject of a number of research analyst reports. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Stifel Nicolaus lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, January 25th. Wells Fargo & Company lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Friday, February 9th. Barclays boosted their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and an average target price of $62.27.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the transaction, the insider now directly owns 52,309,038 shares of the company's stock, valued at $2,767,148,110.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 933,600 shares of company stock valued at $51,259,308 over the last ninety days. 1.80% of the stock is owned by company insiders.

Kellanova Trading Down 1.3 %

K stock traded down $0.75 during trading on Friday, hitting $55.42. The company had a trading volume of 2,937,309 shares, compared to its average volume of 3,734,069. The business has a 50-day moving average of $55.41 and a 200-day moving average of $54.03. Kellanova has a one year low of $47.63 and a one year high of $72.30. The stock has a market cap of $18.94 billion, a PE ratio of 20.15, a PEG ratio of 2.07 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $3.07 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The firm's revenue was up .3% on a year-over-year basis. Research analysts predict that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova's payout ratio is 81.45%.

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.