Bank of New York Mellon Corp Has $130.78 Million Position in Kellanova (NYSE:K)

Bank of New York Mellon Corp lessened its position in Kellanova (NYSE:K) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,615,188 shares of the company’s stock after selling 115,328 shares during the period. Bank of New York Mellon Corp owned 0.47% of Kellanova worth $130,782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Toronto Dominion Bank increased its stake in shares of Kellanova by 5.1% in the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares during the period. Principal Financial Group Inc. increased its stake in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares during the period. Wedmont Private Capital acquired a new stake in shares of Kellanova in the fourth quarter valued at about $384,000. Barclays PLC increased its stake 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 period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kellanova in the third quarter valued at about $4,211,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total value of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares in the company, valued at $3,956,983,784.20. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,145,830 shares of company stock worth $93,461,916 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Up 0.5 %

Shares of NYSE:K opened at $82.90 on Friday. The business’s 50 day simple moving average is $81.77 and its two-hundred day simple moving average is $80.96. The firm has a market cap of $28.62 billion, a P/E ratio of 21.42, a PEG ratio of 4.21 and a beta of 0.37. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.94.

Kellanova (NYSE:K) last announced its quarterly earnings results 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%. As a group, research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.75%. Kellanova’s dividend payout ratio is presently 58.91%.

Analyst Ratings Changes

K has been the subject of several recent research reports. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research note on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research note on Monday, February 24th. They set a “hold” rating for the company. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.