Beutel Goodman & Co Ltd. Sells 4,934,328 Shares of Kellanova (NYSE:K)

Beutel Goodman & Co Ltd. decreased its position in Kellanova (NYSE:K) by 77.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,398,212 shares of the company’s stock after selling 4,934,328 shares during the quarter. Beutel Goodman & Co Ltd. owned approximately 0.41% of Kellanova worth $113,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in K. Norges Bank bought a new stake in Kellanova during the fourth quarter worth $285,126,000. Westchester Capital Management LLC bought a new stake in shares of Kellanova during the 3rd quarter worth $107,795,000. Barclays PLC boosted its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. State Street Corp grew its position in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Finally, Ilex Capital Partners UK LLP increased its holdings in Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after buying an additional 632,510 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the completion of the transaction, the insider now owns 47,847,446 shares of the company’s stock, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,374,996 shares of company stock worth $112,737,068 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Down 0.0 %

Shares of NYSE K opened at $82.43 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.45 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The business has a 50-day simple moving average of $82.24 and a two-hundred day simple moving average of $81.32.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal 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 given a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Upgrades and Downgrades

K has been the subject of a number of research reports. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a report on Friday. They set a “hold” rating for the company. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kellanova has an average rating of “Hold” and an average price target of $77.96.

Kellanova 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.