Securian Asset Management Inc. Sells 282 Shares of Kellanova (NYSE:K)

Securian Asset Management Inc. reduced its holdings in Kellanova (NYSE:K) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,449 shares of the company’s stock after selling 282 shares during the quarter. Securian Asset Management Inc.’s holdings in Kellanova were worth $1,170,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $32,000. First Horizon Advisors Inc. increased its holdings in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $43,000. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Down 0.1 %

K stock opened at $82.22 on Friday. The stock’s fifty day simple moving average is $82.05 and its two-hundred day simple moving average is $81.19. 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 1-year low of $52.53 and a 1-year high of $83.22. The stock has a market cap of $28.38 billion, a P/E ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.31.

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s payout ratio is presently 58.91%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock worth $103,099,492 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

K has been the subject of several recent research reports. StockNews.com initiated coverage on Kellanova in a report on Wednesday. They set a “hold” rating for the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research report on Tuesday, February 18th. 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, the stock has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova 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.