Jensen Investment Management Inc. Has $926,000 Stock Position in Kellanova (NYSE:K)

Jensen Investment Management Inc. reduced its position in shares of Kellanova (NYSE:K) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,432 shares of the company’s stock after selling 2,695 shares during the quarter. Jensen Investment Management Inc.’s holdings in Kellanova were worth $926,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Kellanova by 5.2% during the 3rd 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 during the period. Geode Capital Management LLC raised its stake in shares of Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after purchasing an additional 196,564 shares during the last quarter. Barclays PLC raised 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 worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kellanova by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after purchasing an additional 50,303 shares during the last quarter. Finally, Ilex Capital Partners UK LLP raised its stake 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 purchasing an additional 632,510 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

K has been the subject of several analyst reports. StockNews.com initiated coverage on Kellanova in a research note on Wednesday, March 12th. They issued 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 price objective for the company in a research note on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the sale, the insider now owns 47,618,280 shares in the company, valued at $3,917,079,712.80. 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 available at this link. Insiders have sold a total of 1,260,413 shares of company stock worth $103,099,492 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $82.22 on Monday. The stock has a fifty day simple moving average of $82.05 and a two-hundred day simple moving average of $81.19. Kellanova has a 1-year low of $52.53 and a 1-year high of $83.22. The firm has a market cap of $28.38 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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 anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

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.