Global Retirement Partners LLC Has $76,000 Holdings in Kellanova (NYSE:K)

Global Retirement Partners LLC lessened its holdings in Kellanova (NYSE:K) by 33.5% during the fourth quarter, HoldingsChannel reports. The fund owned 940 shares of the company’s stock after selling 473 shares during the quarter. Global Retirement Partners LLC’s holdings in Kellanova were worth $76,000 as of its most recent SEC filing.

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

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the sale, the insider now directly owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 1,145,830 shares of company stock worth $93,461,916 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.5 %

Shares of NYSE:K opened at $82.90 on Friday. The firm has a fifty day moving average price of $81.77 and a two-hundred day moving average price of $80.96. The company has a market cap 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 company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a one year low of $52.46 and a one year high of $82.94.

Kellanova (NYSE:K) last released its quarterly 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 net margin of 10.53% and a return on equity of 37.25%. Analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared 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 is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.75%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. StockNews.com assumed coverage on shares of Kellanova in a research report on Monday, February 24th. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a research report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $77.96.

About Kellanova

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.