Raymond James Financial Inc. Takes $21.28 Million Position in Kellanova (NYSE:K)

Raymond James Financial Inc. acquired a new stake in Kellanova (NYSE:K - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 262,832 shares of the company's stock, valued at approximately $21,282,000. Raymond James Financial Inc. owned about 0.08% of Kellanova as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenland Capital Management LP grew its stake in Kellanova by 23.3% in the 4th quarter. Greenland Capital Management LP now owns 34,963 shares of the company's stock valued at $2,831,000 after buying an additional 6,600 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Kellanova by 1.1% in the 4th quarter. Renaissance Technologies LLC now owns 536,128 shares of the company's stock valued at $43,410,000 after purchasing an additional 5,922 shares during the period. FIL Ltd grew its holdings in Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after buying an additional 1,542,000 shares in the last quarter. Invesco Ltd. increased its position in Kellanova by 2.7% during the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after buying an additional 111,396 shares during the period. Finally, Yakira Capital Management Inc. boosted its position in shares of Kellanova by 318.7% in the fourth quarter. Yakira Capital Management Inc. now owns 95,250 shares of the company's stock valued at $7,712,000 after acquiring an additional 72,500 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

K has been the subject of a number of recent research reports. StockNews.com started coverage on shares of Kellanova in a report on Monday. They issued a "buy" rating for the company. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $77.96.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the completion of the transaction, the insider now directly owns 47,045,365 shares in the company, valued at $3,869,951,724.90. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 1,260,413 shares of company stock valued at $103,737,719. Insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of NYSE:K traded down $0.08 during trading on Thursday, hitting $82.78. 618,906 shares of the company were exchanged, compared to its average volume of 2,737,044. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The company has a market capitalization of $28.58 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business's 50 day moving average is $82.38 and its 200-day moving average is $81.55.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS 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%. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio (DPR) is currently 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.