Keybank National Association OH Sells 1,997 Shares of Kellanova (NYSE:K)

Keybank National Association OH lowered its stake in shares of Kellanova (NYSE:K) by 0.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,590,059 shares of the company’s stock after selling 1,997 shares during the quarter. Kellanova comprises approximately 6.1% of Keybank National Association OH’s investment portfolio, making the stock its biggest position. Keybank National Association OH owned about 0.06% of Kellanova worth $1,586,207,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in K. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kellanova by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock valued at $136,103,000 after purchasing an additional 50,303 shares in the last quarter. Silphium Asset Management Ltd boosted its holdings in shares of Kellanova by 177.8% in the 4th quarter. Silphium Asset Management Ltd now owns 250,000 shares of the company’s stock valued at $20,242,000 after purchasing an additional 160,000 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Kellanova in the 4th quarter valued at $341,000. Jones Financial Companies Lllp boosted its holdings in shares of Kellanova by 41.7% in the 4th quarter. Jones Financial Companies Lllp now owns 57,568 shares of the company’s stock valued at $4,661,000 after purchasing an additional 16,950 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Kellanova by 127.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,105 shares of the company’s stock valued at $89,000 after acquiring an additional 619 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

K stock opened at $82.57 on Tuesday. The stock has a 50-day moving average price of $81.81 and a 200-day moving average price of $81.08. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.94. 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 firm has a market cap of $28.50 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on K. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research note on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research note on Tuesday. They issued a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Transactions at Kellanova

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 stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the sale, the insider now directly owns 48,878,693 shares in the company, valued at $3,941,577,803.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 1,145,830 shares of company stock valued at $93,461,916. Corporate insiders own 1.80% of the company’s stock.

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.