M&T Bank Corp Sells 183 Shares of Kellanova (NYSE:K)

M&T Bank Corp cut its position in shares of Kellanova (NYSE:K) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,546 shares of the company’s stock after selling 183 shares during the period. M&T Bank Corp’s holdings in Kellanova were worth $2,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of Kellanova by 613.8% in the 4th quarter. Assetmark Inc. now owns 4,504 shares of the company’s stock worth $365,000 after purchasing an additional 3,873 shares during the period. Charles Schwab Investment Management Inc. increased its position in Kellanova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock valued at $136,103,000 after acquiring an additional 50,303 shares during the last quarter. Silphium Asset Management Ltd raised its stake in shares of Kellanova by 177.8% in the fourth quarter. Silphium Asset Management Ltd now owns 250,000 shares of the company’s stock valued at $20,242,000 after acquiring an additional 160,000 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Kellanova in the fourth quarter valued at $341,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Kellanova by 41.7% in the fourth quarter. Jones Financial Companies Lllp now owns 57,568 shares of the company’s stock valued at $4,661,000 after acquiring an additional 16,950 shares during the period. 83.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock worth $93,673,894 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on K. StockNews.com began coverage on shares of Kellanova in a research note on Tuesday, March 4th. They issued a “hold” rating on the stock. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research note on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Trading Up 0.0 %

NYSE K opened at $82.45 on Monday. The company’s 50-day moving average price is $81.92 and its 200-day moving average price is $81.14. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market cap of $28.46 billion, a PE ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a 12 month low of $52.46 and a 12 month high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

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.