Victory Capital Management Inc. Sells 114,854 Shares of Kellanova (NYSE:K)

Victory Capital Management Inc. decreased its holdings in Kellanova (NYSE:K) by 56.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 87,471 shares of the company’s stock after selling 114,854 shares during the quarter. Victory Capital Management Inc.’s holdings in Kellanova were worth $7,083,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in K. Charles Schwab Investment Management Inc. raised its position in Kellanova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock valued at $136,103,000 after purchasing an additional 50,303 shares during the period. Silphium Asset Management Ltd grew its stake in shares of Kellanova by 177.8% during the fourth quarter. Silphium Asset Management Ltd now owns 250,000 shares of the company’s stock valued at $20,242,000 after buying an additional 160,000 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Kellanova during the fourth quarter valued at approximately $341,000. Jones Financial Companies Lllp grew its stake in shares of Kellanova by 41.7% during the fourth quarter. Jones Financial Companies Lllp now owns 57,568 shares of the company’s stock valued at $4,661,000 after buying an additional 16,950 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Kellanova by 127.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,105 shares of the company’s stock valued at $89,000 after buying an additional 619 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Down 0.1 %

Shares of NYSE K opened at $82.22 on Friday. The stock has a market cap of $28.38 billion, a P/E ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.31. 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 $52.53 and a 12-month high of $83.22. The business’s fifty day simple moving average is $82.05 and its 200-day simple moving average is $81.19.

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

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Wall Street Analyst Weigh In

A number of research analysts have 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 target price on the stock in a research note on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a research note on Wednesday. They set a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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.