JPMorgan Chase & Co. Sells 15,738 Shares of Kellanova (NYSE:K)

JPMorgan Chase & Co. trimmed its holdings in shares of Kellanova (NYSE:K) by 1.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,450,835 shares of the company’s stock after selling 15,738 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kellanova were worth $117,474,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its holdings in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC boosted its stake in Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after acquiring an additional 140 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares during the period. SPC Financial Inc. increased its stake in Kellanova by 5.7% in the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after purchasing an additional 160 shares in the last quarter. Finally, CENTRAL TRUST Co raised its holdings in Kellanova by 0.7% in the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock worth $1,820,000 after purchasing an additional 162 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the completion of the transaction, the insider now owns 47,389,114 shares in the company, valued at approximately $3,906,758,558.16. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 1,260,413 shares of company stock valued at $103,473,032 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

K has been the subject of a number of recent analyst reports. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com started coverage on Kellanova in a report on Friday, March 28th. They issued a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

NYSE K opened at $82.50 on Thursday. The firm’s 50 day moving average is $82.28 and its 200-day moving average is $81.38. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.48 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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 anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s dividend payout ratio is 58.91%.

Kellanova Company 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.