Thrivent Financial for Lutherans Decreases Stake in Kellanova (NYSE:K)

Thrivent Financial for Lutherans cut its position in Kellanova (NYSE:K) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,867 shares of the company’s stock after selling 3,815 shares during the period. Thrivent Financial for Lutherans’ holdings in Kellanova were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of K. Independent Advisor Alliance increased its stake in Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Kellanova by 5.1% in the 3rd 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 last quarter. Wedmont Private Capital acquired a new stake in Kellanova during the 4th quarter worth $384,000. Barclays PLC lifted its position in 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 acquiring an additional 1,033,383 shares during the last quarter. Finally, Alpine Associates Management Inc. lifted its position in Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after acquiring an additional 296,150 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

K has been the topic of a number of research analyst reports. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com began coverage on Kellanova in a research note on Friday. They set a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Down 0.0 %

Shares of Kellanova stock opened at $82.43 on Monday. Kellanova has a one year low of $55.01 and a one year high of $83.22. The company has a market cap of $28.45 billion, a P/E ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm has a fifty day moving average of $82.24 and a two-hundred day moving average of $81.34.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

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

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the sale, the insider now directly owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is owned by corporate 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.