Metis Global Partners LLC Sells 8,774 Shares of Kellanova (NYSE:K)

Metis Global Partners LLC reduced its stake in shares of Kellanova (NYSE:K) by 31.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 19,253 shares of the company’s stock after selling 8,774 shares during the quarter. Metis Global Partners LLC’s holdings in Kellanova were worth $1,559,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the 4th quarter worth $27,000. BankPlus Trust Department bought a new stake in Kellanova in the fourth quarter worth $28,000. First Horizon Advisors Inc. lifted its stake in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. Assetmark Inc. lifted its stake in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Kellanova in the third quarter worth $55,000. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research note on Tuesday. They issued a “hold” rating for the company. Royal Bank of Canada raised shares of 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. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Price Performance

Shares of NYSE K opened at $82.57 on Tuesday. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company’s 50-day moving average is $81.81 and its 200 day moving average is $81.08. The stock has a market capitalization of $28.50 billion, a P/E ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.37.

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, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total value of $9,246,848.10. Following the sale, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 owned by company 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.