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

M&T Bank Corp reduced its position in Kellanova (NYSE:K) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,546 shares of the company’s stock after selling 183 shares during the quarter. M&T Bank Corp’s holdings in Kellanova were worth $2,311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank raised its position in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of Kellanova in the 4th quarter valued at approximately $384,000. Barclays PLC raised its position in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Kellanova in the 3rd quarter valued at approximately $4,211,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,145,830 shares of company stock valued at $93,673,894. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

NYSE:K opened at $82.45 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a 50 day moving average price of $81.92 and a 200-day moving average price of $81.14. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22.

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

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Kellanova in a research report on Tuesday, March 4th. They set a “hold” rating for the company. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.96.

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.