The Manufacturers Life Insurance Company decreased its holdings in Kellanova (NYSE:K) by 22.3% during the fourth quarter, according to its latest SEC disclosure. The institutional investor held 165,004 shares after selling 47,343 shares valued at approximately $3.83 million based on the $82.67 share price.
Recent Institutional Transactions
Several other large investors have recently adjusted their Kellanova holdings. Vazirani Asset Management LLC established a new position worth about $5.26 million. Tudor Investment Corp ET AL increased its stake by 136.0%, now owning 1,745,788 shares valued at $141.36 million. Melqart Asset Management UK Ltd created a new position valued at approximately $39.24 million. Coldstream Capital Management Inc. raised its stake by 9.2%, owning 5,325 shares worth $431,000. Westchester Capital Management LLC boosted its holdings by 19.9%, now owning 1,600,893 shares valued at $129.62 million.
Institutional Ownership and Stock Performance
Institutional investors collectively hold 83.87% of Kellanova’s stock. The company’s shares opened at $82.67 on Friday, with a 50-day simple moving average of $82.40 and a 200-day average of $81.65. Kellanova’s market capitalization stands at $28.54 billion, with a price-to-earnings ratio of 21.36 and a beta of 0.34.
Financial Results and Dividend Announcement
Kellanova reported earnings per share (EPS) of $0.90 for the quarter, missing the consensus estimate of $1.01. The company had revenue of $3.08 billion, down 3.7% year-over-year. Kellanova announced a quarterly dividend of $0.57 per share, payable on June 13th to investors of record on June 2nd.
Insider Transactions and Analyst Ratings
Major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares in February at an average price of $82.23. In the last quarter, insiders sold 1,260,413 shares worth $103.80 million. Thirteen research analysts have rated Kellanova with a ‘hold’ rating, while one issued a ‘buy’ rating, with an average price target of $79.41.
