Kellanova (NYSE:K) Stock Position Cut by LSV Asset Management

LSV Asset Management decreased its holdings in Kellanova (NYSE:K - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 477,000 shares of the company's stock after selling 25,600 shares during the period. LSV Asset Management owned about 0.14% of Kellanova worth $26,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in K. West Family Investments Inc. purchased a new position in Kellanova during the 4th quarter worth $268,000. Fisher Asset Management LLC increased its position in Kellanova by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 63,503 shares of the company's stock valued at $3,550,000 after purchasing an additional 257 shares during the period. First Trust Direct Indexing L.P. raised its stake in Kellanova by 3.4% in the fourth quarter. First Trust Direct Indexing L.P. now owns 12,407 shares of the company's stock worth $694,000 after buying an additional 408 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Kellanova in the 4th quarter valued at $218,000. Finally, Anchor Capital Advisors LLC bought a new position in Kellanova in the fourth quarter worth about $38,939,000. 83.87% of the stock is currently owned by institutional investors.

Kellanova Trading Down 0.8 %

Kellanova stock traded down $0.47 during mid-day trading on Monday, hitting $60.04. The company's stock had a trading volume of 2,844,862 shares, compared to its average volume of 3,252,312. Kellanova has a 1 year low of $47.63 and a 1 year high of $71.53. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $20.52 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The stock's fifty day moving average is $56.30 and its two-hundred day moving average is $54.72.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the business earned $1.10 earnings per share. The business's revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts anticipate that Kellanova will post 3.58 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.73%. Kellanova's dividend payout ratio is presently 83.90%.

Analysts Set New Price Targets

A number of analysts have commented on K shares. Citigroup began coverage on Kellanova in a research report on Thursday, February 1st. They set a "neutral" rating and a $57.00 price target for the company. Barclays upped their target price on Kellanova from $60.00 to $64.00 and gave the company an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday. DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They issued a "buy" rating and a $67.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of Kellanova from $57.00 to $62.00 and gave the company a "hold" rating in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.46.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the transaction, the insider now owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 933,600 shares of company stock valued at $51,891,044. 1.80% of the stock is currently owned by company insiders.

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.