Royal London Asset Management Ltd. Lowers Stock Holdings in Kellanova (NYSE:K)

Royal London Asset Management Ltd. reduced its position in shares of Kellanova (NYSE:K) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,264 shares of the company’s stock after selling 2,312 shares during the period. Royal London Asset Management Ltd.’s holdings in Kellanova were worth $11,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westchester Capital Management LLC purchased a new position in Kellanova in the third quarter valued at $107,795,000. Barclays PLC boosted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the period. State Street Corp boosted its holdings in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the period. Ilex Capital Partners UK LLP boosted its holdings in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after purchasing an additional 632,510 shares during the period. Finally, Cibc World Markets Corp boosted its holdings in Kellanova by 538.6% in the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after purchasing an additional 493,976 shares during the period. 83.87% of the stock is currently 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 the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the transaction, the insider now owns 48,878,693 shares in the company, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 1,374,996 shares of company stock worth $112,530,818 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a research note on Thursday. They issued a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Up 0.1 %

K opened at $82.40 on Friday. The business’s 50-day simple moving average is $82.14 and its 200-day simple moving average is $81.25. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a one year low of $55.01 and a one year high of $83.22. The stock has a market capitalization of $28.44 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

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.