Yousif Capital Management LLC Sells 952 Shares of Kellanova (NYSE:K)

Yousif Capital Management LLC lessened its holdings in shares of Kellanova (NYSE:K) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 53,868 shares of the company’s stock after selling 952 shares during the quarter. Yousif Capital Management LLC’s holdings in Kellanova were worth $3,012,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after purchasing an additional 1,132,485 shares during the period. Van ECK Associates Corp grew its position in Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after buying an additional 1,051,922 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Kellanova by 738.6% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock valued at $23,522,000 after acquiring an additional 370,607 shares during the period. Deutsche Bank AG increased its stake in Kellanova by 27.4% during the third quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock valued at $95,670,000 after acquiring an additional 345,830 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Kellanova by 8.7% in the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after acquiring an additional 328,658 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 1.2 %

Shares of NYSE K opened at $57.73 on Monday. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $55.96 and a two-hundred day moving average of $54.33. The company has a market cap of $19.73 billion, a PE ratio of 20.99, a P/E/G ratio of 2.21 and a beta of 0.40.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, equities analysts expect that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. Kellanova’s payout ratio is 81.45%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the transaction, the insider now directly owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 855,800 shares of company stock valued at $47,378,644. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on K shares. DA Davidson began coverage on Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Citigroup began coverage on shares of Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. Barclays upped their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus target price of $62.27.

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.