J. Safra Sarasin Holding AG Takes Position in Kellanova (NYSE:K)

J. Safra Sarasin Holding AG acquired a new stake in Kellanova (NYSE:K - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 32,236 shares of the company's stock, valued at approximately $2,610,000.

Other large investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova in the fourth quarter valued at about $27,000. BankPlus Trust Department acquired a new position in Kellanova during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. grew its stake in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

Shares of NYSE:K traded down $0.18 on Friday, reaching $82.59. 2,207,448 shares of the company's stock were exchanged, compared to its average volume of 2,749,781. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The company has a fifty day moving average of $82.39 and a 200-day moving average of $81.58. The company has a market capitalization of $28.51 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 4.21 and a beta of 0.34. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. On average, research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's dividend payout ratio is 58.91%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $82.23, for a total value of $9,422,160.09. Following the sale, the insider now owns 48,191,195 shares of the company's stock, valued at approximately $3,962,761,964.85. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 1,260,413 shares of company stock worth $103,737,719 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on K. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a report on Monday, April 21st. They set a "buy" rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $77.96.

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.