Shell Asset Management Co. Has $1.78 Million Stake in Kellanova (NYSE:K)

Shell Asset Management Co. cut its holdings in shares of Kellanova (NYSE:KFree Report) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,769 shares of the company’s stock after selling 5,026 shares during the quarter. Shell Asset Management Co.’s holdings in Kellanova were worth $1,776,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of K. Personal CFO Solutions LLC grew its stake in shares of Kellanova by 5.0% in the fourth quarter. Personal CFO Solutions LLC now owns 5,207 shares of the company’s stock valued at $291,000 after buying an additional 248 shares in the last quarter. Wealth Quarterback LLC acquired a new position in shares of Kellanova during the 4th quarter worth about $647,000. Morningstar Investment Services LLC raised its holdings in shares of Kellanova by 103.3% in the 4th quarter. Morningstar Investment Services LLC now owns 40,940 shares of the company’s stock valued at $2,277,000 after purchasing an additional 20,807 shares during the period. Keeley Teton Advisors LLC lifted its stake in Kellanova by 75.9% in the 4th quarter. Keeley Teton Advisors LLC now owns 38,002 shares of the company’s stock valued at $2,125,000 after purchasing an additional 16,399 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in Kellanova by 205.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 28,234 shares of the company’s stock worth $1,579,000 after purchasing an additional 18,988 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Price Performance

Shares of NYSE K opened at $59.09 on Tuesday. The business has a fifty day moving average price of $59.29 and a two-hundred day moving average price of $56.38. The stock has a market capitalization of $20.20 billion, a PE ratio of 22.13, a P/E/G ratio of 2.12 and a beta of 0.35. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $68.69.

Kellanova (NYSE:KGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. As a group, equities analysts predict that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.79%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the completion of the transaction, the insider now owns 52,231,238 shares of the company’s stock, valued at approximately $2,904,579,145.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the sale, the insider now directly owns 52,231,238 shares in the company, valued at approximately $2,904,579,145.18. The disclosure for this sale can be found here. Insiders have sold 865,600 shares of company stock valued at $50,366,486 over the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on K shares. JPMorgan Chase & Co. upped their price objective on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. TD Cowen raised their price target on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Piper Sandler upped their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. DA Davidson increased their price objective on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Barclays lifted their target price on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.85.

Check Out Our Latest Research Report on Kellanova

Kellanova Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Kellanova (NYSE:K)

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