Mengis Capital Management Inc. Lowers Holdings in Kellanova (NYSE:K)

Mengis Capital Management Inc. trimmed its holdings in Kellanova (NYSE:K) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,116 shares of the company’s stock after selling 250 shares during the period. Mengis Capital Management Inc.’s holdings in Kellanova were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in K. Westchester Capital Management LLC purchased a new position in shares of Kellanova in the third quarter valued at about $107,795,000. Barclays PLC lifted 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 worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. State Street Corp lifted its position in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP lifted its position in shares of Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after buying an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas purchased a new stake in shares of Kellanova in the fourth quarter worth about $29,595,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Trading Up 0.1 %

K opened at $82.71 on Tuesday. The stock has a market cap of $28.51 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 4.21 and a beta of 0.37. The stock’s 50 day moving average price is $81.59 and its 200-day moving average price is $80.83. Kellanova has a one year low of $52.46 and a one year high of $82.75. 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 (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%. On average, equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Analyst Ratings Changes

A number of equities research analysts recently commented on K shares. StockNews.com began coverage on Kellanova in a research report on Monday. They issued a “hold” rating on the stock. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Finally, Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the sale, the insider now owns 49,107,859 shares in the company, valued at $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,145,830 shares of company stock valued at $93,291,187 over the last quarter. 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.