Signaturefd LLC Decreases Stake in Kellanova (NYSE:K)

Signaturefd LLC reduced its holdings in Kellanova (NYSE:K) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,090 shares of the company’s stock after selling 141 shares during the period. Signaturefd LLC’s holdings in Kellanova were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova during the fourth quarter worth about $32,000. First Horizon Advisors Inc. increased its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in Kellanova during the fourth quarter worth about $39,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the transaction, the insider now owns 48,764,110 shares in the company, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 1,260,413 shares of company stock worth $103,099,492. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of K opened at $82.36 on Thursday. Kellanova has a 1-year low of $54.70 and a 1-year high of $83.22. The stock has a market cap of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31. The firm has a 50-day simple moving average of $82.11 and a two-hundred day simple moving average of $81.23. 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) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research report on Tuesday, February 18th. StockNews.com assumed coverage on shares of Kellanova in a research report on Thursday. They set a “hold” rating for the company. Thirteen 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 stock presently has a consensus rating of “Hold” and an average price target of $77.96.

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.