Aviva PLC boosted its stake in shares of Kellanova (NYSE:K - Free Report) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 542,709 shares of the company's stock after acquiring an additional 13,531 shares during the quarter. Aviva PLC owned about 0.16% of Kellanova worth $43,943,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Kellanova in the 4th quarter worth about $285,126,000. Franklin Resources Inc. raised its position in Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after purchasing an additional 2,313,047 shares during the period. Barclays PLC lifted its stake in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. State Street Corp boosted its position in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company's stock valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Finally, Cibc World Markets Corp grew its stake in shares of Kellanova by 538.6% during the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company's stock valued at $47,423,000 after buying an additional 493,976 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total value of $9,329,347.86. Following the completion of the sale, the insider now directly owns 48,534,944 shares in the company, valued at $3,951,715,140.48. 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 at the SEC website. In the last three months, insiders have sold 1,260,413 shares of company stock worth $103,558,970. 1.80% of the stock is currently owned by company insiders.
Kellanova Stock Up 0.0 %
Shares of K stock traded up $0.03 on Friday, hitting $82.17. The stock had a trading volume of 1,453,391 shares, compared to its average volume of 2,727,114. Kellanova has a one year low of $55.01 and a one year high of $83.22. The business has a 50 day moving average price of $82.33 and a 200 day moving average price of $81.45. The company has a market cap of $28.36 billion, a PE ratio of 21.23, a P/E/G 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.
Kellanova (NYSE:K - Get Free Report) last posted its quarterly 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 net margin of 10.53% and a return on equity of 37.25%. Research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.
Kellanova Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on K. StockNews.com initiated coverage on Kellanova in a research note on Saturday, April 5th. They set a "hold" 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. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $77.96.
Check Out Our Latest Stock Report on K
About Kellanova
(
Free Report)
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.
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