Blue Trust Inc. Has $420,000 Stake in Kellanova (NYSE:K)

Blue Trust Inc. increased its stake in shares of Kellanova (NYSE:K - Free Report) by 1,086.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,186 shares of the company's stock after acquiring an additional 4,749 shares during the period. Blue Trust Inc.'s holdings in Kellanova were worth $420,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Kellanova by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,273 shares of the company's stock worth $3,008,000 after buying an additional 324 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new position in Kellanova during the third quarter worth approximately $204,000. Chicago Capital LLC acquired a new position in Kellanova during the third quarter worth approximately $207,000. Northwest Investment Counselors LLC acquired a new position in shares of Kellanova in the third quarter valued at approximately $218,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Kellanova in the third quarter valued at approximately $488,000. Institutional investors own 83.87% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,145,830 shares of company stock worth $93,291,187 over the last three months. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on K. StockNews.com began coverage on Kellanova in a research report on Sunday, February 16th. They issued a "hold" rating on the stock. BNP Paribas downgraded Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Finally, Royal Bank of Canada raised Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 target price on the stock in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $77.96.

Kellanova Price Performance

Shares of K stock traded up $0.18 during trading on Friday, hitting $82.63. The company had a trading volume of 2,683,975 shares, compared to its average volume of 2,389,531. The stock's 50-day moving average price is $81.51 and its 200 day moving average price is $80.64. 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 one year low of $52.46 and a one year high of $82.72. The firm has a market capitalization of $28.48 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

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

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's payout ratio 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.