Creegan & Nassoura Financial Group LLC Reduces Stock Holdings in Kellanova (NYSE:K)

Creegan & Nassoura Financial Group LLC lowered its position in Kellanova (NYSE:K) by 1.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,820 shares of the company’s stock after selling 200 shares during the quarter. Creegan & Nassoura Financial Group LLC’s holdings in Kellanova were worth $1,605,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. J. Safra Sarasin Holding AG bought a new position in Kellanova in the fourth quarter worth approximately $2,610,000. Transce3nd LLC purchased a new stake in Kellanova in the fourth quarter valued at $58,000. MetLife Investment Management LLC grew its stake in shares of Kellanova by 2.0% during the 4th quarter. MetLife Investment Management LLC now owns 71,041 shares of the company’s stock worth $5,752,000 after purchasing an additional 1,392 shares during the period. Norinchukin Bank The raised its position in shares of Kellanova by 7.1% in the fourth quarter. Norinchukin Bank The now owns 11,532 shares of the company’s stock worth $934,000 after acquiring an additional 765 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Kellanova during the fourth quarter worth approximately $857,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the sale, the insider now owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,260,413 shares of company stock valued at $103,672,407 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $82.37 on Monday. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The firm’s 50 day moving average is $82.35 and its 200-day moving average is $81.52. The stock has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.34. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

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

Kellanova Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com initiated coverage on Kellanova in a report on Monday. They issued a “buy” rating on the stock. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.96.

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.