Canada Pension Plan Investment Board Sells 14,616 Shares of Kellanova (NYSE:K)

Canada Pension Plan Investment Board cut its holdings in shares of Kellanova (NYSE:KFree Report) by 3.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 386,253 shares of the company’s stock after selling 14,616 shares during the quarter. Canada Pension Plan Investment Board owned about 0.70% of Kellanova worth $22,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Kellanova during the fourth quarter valued at about $131,663,000. Southeastern Asset Management Inc. TN bought a new stake in shares of Kellanova during the first quarter valued at about $87,611,000. Van ECK Associates Corp increased its position in shares of Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after buying an additional 1,051,922 shares during the period. Bank of Montreal Can bought a new stake in shares of Kellanova during the second quarter valued at about $51,392,000. Finally, Vanguard Group Inc. increased its position in shares of Kellanova by 2.3% during the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock valued at $1,892,981,000 after buying an additional 646,828 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Down 2.6 %

Shares of NYSE K opened at $53.49 on Monday. Kellanova has a one year low of $47.63 and a one year high of $72.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The firm’s 50 day simple moving average is $54.79 and its two-hundred day simple moving average is $56.02. The stock has a market capitalization of $18.32 billion, a P/E ratio of 19.45, a PEG ratio of 2.13 and a beta of 0.39.

Kellanova (NYSE:KGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, analysts expect that Kellanova will post 3.58 EPS for the current fiscal year.

Analysts Set New Price Targets

K has been the topic of several analyst reports. Wells Fargo & Company upped their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays upgraded shares of Kellanova from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $57.00 to $55.00 in a research report on Thursday, November 9th. Morgan Stanley decreased their price objective on shares of Kellanova from $68.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Finally, Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.36.

Get Our Latest Report on Kellanova

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $53.89, for a total transaction of $4,192,642.00. Following the completion of the sale, the insider now owns 53,320,438 shares of the company’s stock, valued at $2,873,438,403.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 700,200 shares of company stock valued at $37,956,286. 1.40% of the stock is currently owned by company insiders.

Kellanova Profile

(Free Report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.

Further Reading

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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