BI Asset Management Fondsmaeglerselskab A S Takes Position in Kellanova (NYSE:K)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Kellanova (NYSE:K - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,579 shares of the company's stock, valued at approximately $857,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the fourth quarter worth $27,000. BankPlus Trust Department purchased a new position in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. raised its position in shares of 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 buying an additional 173 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Down 0.2 %

Kellanova stock traded down $0.19 during trading on Monday, reaching $82.44. 1,303,011 shares of the company's stock were exchanged, compared to its average volume of 2,591,297. The company's 50-day moving average is $82.39 and its two-hundred day moving average is $81.60. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K - Get Free Report) last announced 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%. On average, analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova's payout ratio is currently 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total value of $9,385,493.53. Following the completion of the sale, the insider now directly owns 48,305,778 shares of the company's stock, valued at $3,956,726,275.98. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.

Wall Street Analyst Weigh In

K has been the subject of several recent analyst reports. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a research report on Monday, April 21st. They issued a "buy" rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $77.96.

Kellanova 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.