Vontobel Holding Ltd. Decreases Stake in Kellanova (NYSE:K)

Vontobel Holding Ltd. decreased its holdings in shares of Kellanova (NYSE:K - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,528 shares of the company's stock after selling 30,717 shares during the quarter. Vontobel Holding Ltd. owned about 0.07% of Kellanova worth $13,616,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of K. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of Kellanova by 95.3% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company's stock worth $27,405,000 after purchasing an additional 207,392 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Kellanova by 16.7% during the 1st quarter. HighTower Advisors LLC now owns 18,121 shares of the company's stock worth $1,167,000 after purchasing an additional 2,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Kellanova by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company's stock valued at $2,208,000 after buying an additional 2,119 shares during the last quarter. Raymond James Trust N.A. increased its holdings in Kellanova by 46.9% during the first quarter. Raymond James Trust N.A. now owns 8,653 shares of the company's stock worth $558,000 after buying an additional 2,764 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in Kellanova by 6.4% during the first quarter. Cibc World Market Inc. now owns 38,670 shares of the company's stock worth $2,494,000 after acquiring an additional 2,313 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on K shares. StockNews.com downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a research note on Friday, March 1st. They set a "buy" rating and a $67.00 target price for the company. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They set a "neutral" rating and a $57.00 price objective for the company. Stifel Nicolaus boosted their price target on Kellanova from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Finally, Piper Sandler increased their price objective on Kellanova from $59.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $62.27.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.68, for a total transaction of $4,254,104.00. Following the transaction, the insider now owns 52,775,838 shares of the company's stock, valued at approximately $2,885,782,821.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 933,600 shares of company stock valued at $51,308,322 in the last quarter. Company insiders own 1.80% of the company's stock.

Kellanova Price Performance

NYSE:K traded up $0.12 on Tuesday, hitting $55.52. The company had a trading volume of 2,295,192 shares, compared to its average volume of 3,183,397. The firm has a 50 day moving average of $55.43 and a two-hundred day moving average of $54.00. The stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.07 and a beta of 0.40. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. 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 released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, research analysts anticipate that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, February 29th. Kellanova's dividend payout ratio (DPR) is currently 81.45%.

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.