Factorial Partners LLC Cuts Stake in Kellanova (NYSE:K)

Factorial Partners LLC cut its holdings in Kellanova (NYSE:K) by 19.1% during the fourth quarter, Holdings Channel reports. The firm owned 18,200 shares of the company’s stock after selling 4,300 shares during the quarter. Factorial Partners LLC’s holdings in Kellanova were worth $1,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in K. International Assets Investment Management LLC boosted its position in shares of Kellanova by 7,849.5% during the third quarter. International Assets Investment Management LLC now owns 86,729 shares of the company’s stock worth $7,000,000 after acquiring an additional 85,638 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Kellanova by 2.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 16,934 shares of the company’s stock worth $1,367,000 after purchasing an additional 457 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Kellanova by 1.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the company’s stock valued at $1,219,000 after purchasing an additional 200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kellanova by 28.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,118 shares of the company’s stock valued at $1,867,000 after purchasing an additional 5,064 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Kellanova by 9.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,919 shares of the company’s stock worth $1,204,000 after purchasing an additional 1,249 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Performance

Shares of NYSE:K opened at $82.90 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.94. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 4.21 and a beta of 0.37. The firm’s 50-day moving average is $81.77 and its 200 day moving average is $80.96.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada raised 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 assumed coverage on Kellanova in a research report on Monday, February 24th. They set a “hold” rating for the company. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.96.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the sale, the insider now owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 1,145,830 shares of company stock valued at $93,461,916. 1.80% of the stock is currently owned by company insiders.

Kellanova 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.