Kellanova (NYSE:K) Shares Sold by Axa S.A.

Axa S.A. lowered its stake in shares of Kellanova (NYSE:K) by 88.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,681 shares of the company’s stock after selling 41,707 shares during the period. Axa S.A.’s holdings in Kellanova were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova in the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the subject of several research analyst reports. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average price target of $79.41.

Kellanova Trading Down 0.0 %

Shares of K opened at $82.50 on Friday. 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 has a 12 month low of $55.96 and a 12 month high of $83.22. The stock has a market cap of $28.48 billion, a PE ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.30. The stock’s 50-day moving average is $82.39 and its two-hundred day moving average is $81.70.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is 57.58%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the sale, the insider now directly owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,374,996 shares of company stock worth $113,261,858 in the last quarter. 1.80% of the stock is owned by corporate insiders.

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.