Norges Bank Makes New $285.13 Million Investment in Kellanova (NYSE:K)

Norges Bank acquired a new stake in Kellanova (NYSE:K - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,521,376 shares of the company's stock, valued at approximately $285,126,000. Norges Bank owned approximately 1.02% of Kellanova at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of Kellanova by 7.1% in the third quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company's stock worth $1,750,000 after acquiring an additional 1,432 shares in the last quarter. Quantbot Technologies LP bought a new stake in Kellanova during the third quarter valued at $378,000. Townsquare Capital LLC acquired a new position in Kellanova during the 3rd quarter valued at approximately $414,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Kellanova in the 3rd quarter worth about $4,843,000. Finally, CreativeOne Wealth LLC raised its stake in Kellanova by 2.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 13,303 shares of the company's stock valued at $1,074,000 after acquiring an additional 258 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on K shares. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com began coverage on Kellanova in a research report on Friday. They set a "hold" rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has issued 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.

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Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the completion of the sale, the insider now directly owns 47,389,114 shares of the company's stock, valued at approximately $3,906,758,558.16. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock worth $103,473,032 in the last three months. Insiders own 1.80% of the company's stock.

Kellanova Stock Down 0.1 %

Shares of K stock traded down $0.05 on Tuesday, hitting $82.45. The stock had a trading volume of 2,316,609 shares, compared to its average volume of 2,672,533. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business has a 50 day moving average of $82.25 and a 200 day moving average of $81.36. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22.

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

Kellanova Announces Dividend

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

Kellanova Company Profile

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.