Westpac Banking Corp Has $4.50 Million Holdings in Kellanova (NYSE:K)

Westpac Banking Corp lowered its position in Kellanova (NYSE:K) by 19.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 55,598 shares of the company’s stock after selling 13,305 shares during the period. Westpac Banking Corp’s holdings in Kellanova were worth $4,502,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Kellanova in the fourth quarter worth approximately $285,126,000. Franklin Resources Inc. grew its position in shares of Kellanova by 869.5% during 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. Barclays PLC increased its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. State Street Corp lifted its position in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after acquiring an additional 731,273 shares during the period. Finally, Cibc World Markets Corp boosted its stake in Kellanova by 538.6% during the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after acquiring an additional 493,976 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

Shares of K stock opened at $82.50 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a 50-day moving average of $82.28 and a 200-day moving average of $81.38. Kellanova has a one year low of $55.01 and a one year high of $83.22. The company has a market cap of $28.48 billion, a P/E ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted 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%. Equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on K shares. StockNews.com assumed coverage on shares of Kellanova in a research report on Friday, March 28th. They set a “hold” rating on the stock. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now directly owns 48,534,944 shares in the company, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,260,413 shares of company stock worth $103,473,032 in the last quarter. 1.80% of the stock is currently owned by company insiders.

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.