Diversified Trust Co Has $1.70 Million Stake in Kellanova (NYSE:K)

Diversified Trust Co reduced its stake in shares of Kellanova (NYSE:K) by 74.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,963 shares of the company’s stock after selling 61,957 shares during the quarter. Diversified Trust Co’s holdings in Kellanova were worth $1,697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. grew its position in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Kellanova in the second quarter worth $88,065,000. Westchester Capital Management LLC bought a new stake in shares of Kellanova during the third quarter worth $107,795,000. Point72 Asset Management L.P. acquired a new stake in shares of Kellanova in the second quarter valued at $63,585,000. Finally, Barclays PLC raised its holdings in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the completion of the transaction, the insider now directly owns 49,909,940 shares of the company’s stock, valued at $4,024,238,462.20. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 1,031,247 shares of company stock valued at $83,418,716. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Up 0.2 %

K opened at $81.53 on Thursday. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58. The firm has a market cap of $28.10 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm’s fifty day moving average is $80.85 and its two-hundred day moving average is $75.50.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.03 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. Kellanova’s payout ratio is 78.35%.

Wall Street Analyst Weigh In

K has been the topic of several research reports. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Finally, StockNews.com started coverage on Kellanova in a report on Tuesday. They set a “hold” rating for the company. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.35.

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.