Voya Investment Management LLC Sells 4,308 Shares of Kellanova (NYSE:K)

Voya Investment Management LLC trimmed its stake in Kellanova (NYSE:K - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,537 shares of the company's stock after selling 4,308 shares during the period. Voya Investment Management LLC's holdings in Kellanova were worth $6,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in K. Vanguard Group Inc. boosted its stake in shares of Kellanova by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after purchasing an additional 281,137 shares during the period. Geode Capital Management LLC boosted its stake in shares of Kellanova by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares in the last quarter. Invesco Ltd. boosted its position in Kellanova by 2.7% during the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after acquiring an additional 111,396 shares in the last quarter. Norges Bank bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $285,126,000. Finally, Franklin Resources Inc. grew its position in shares of Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after buying an additional 2,313,047 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

K has been the topic of a number of analyst reports. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $77.96.

Kellanova Stock Performance

Shares of K stock traded down $0.13 during trading hours on Friday, reaching $82.67. 3,879,006 shares of the company traded hands, compared to its average volume of 2,697,540. The firm has a 50-day moving average price of $82.40 and a 200 day moving average price of $81.65. The company has a market cap of $28.54 billion, a P/E ratio of 21.36, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K - Get Free Report) last released its 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). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter last year, the firm posted $1.01 EPS. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the sale, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $103,801,886 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

About Kellanova

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.