Kellanova (NYSE:K) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Kellanova (NYSE:K) by 17.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,867 shares of the company’s stock after selling 3,815 shares during the period. Thrivent Financial for Lutherans’ holdings in Kellanova were worth $1,446,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of K. Barclays PLC raised its position 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. State Street Corp raised its holdings in Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after acquiring an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP lifted its stake in shares of Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares during the period. Cibc World Markets Corp boosted its holdings in shares of Kellanova by 538.6% during the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after purchasing an additional 493,976 shares during the last quarter. Finally, Syquant Capital Sas purchased a new stake in shares of Kellanova in the fourth quarter valued at $29,595,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now directly owns 48,534,944 shares of the company’s stock, valued at $3,951,715,140.48. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,260,413 shares of company stock worth $103,473,032 over the last 90 days. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

K has been the subject of a number of research analyst reports. StockNews.com began coverage on shares of Kellanova in a research note on Friday. They set a “hold” rating for the company. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

K opened at $82.43 on Monday. The business has a 50 day moving average price of $82.24 and a two-hundred day moving average price of $81.34. 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 company has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

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.