Dimensional Fund Advisors LP Decreases Stock Position in Kellanova (NYSE:K)

Dimensional Fund Advisors LP decreased its holdings in shares of Kellanova (NYSE:K) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,645,412 shares of the company’s stock after selling 9,364 shares during the period. Dimensional Fund Advisors LP’s holdings in Kellanova were worth $214,197,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Kellanova during the 4th quarter valued at about $285,126,000. Franklin Resources Inc. lifted its holdings in shares of Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after purchasing an additional 2,313,047 shares during the period. FIL Ltd boosted its position in Kellanova by 182.3% in the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Barclays PLC increased its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the period. Finally, Cibc World Markets Corp raised its position in Kellanova by 538.6% during the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after buying an additional 493,976 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on K shares. StockNews.com initiated coverage on shares of Kellanova in a report on Monday. They issued a “buy” rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

Shares of K stock opened at $82.59 on Wednesday. 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 $55.96 and a 12-month high of $83.22. The business’s 50 day moving average is $82.37 and its two-hundred day moving average is $81.54. The company has a market capitalization of $28.51 billion, a P/E ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the completion of the sale, the insider now owns 48,305,778 shares of the company’s stock, valued at $3,956,726,275.98. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,737,719. 1.80% of the stock is owned by corporate insiders.

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.