Canada Pension Plan Investment Board Purchases 53,091 Shares of Kellanova (NYSE:K)

Canada Pension Plan Investment Board increased its stake in shares of Kellanova (NYSE:K - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 879,657 shares of the company's stock after acquiring an additional 53,091 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.26% of Kellanova worth $71,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Independent Advisor Alliance grew its stake in shares of Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after purchasing an additional 1,019 shares during the last quarter. Aviva PLC grew its position in shares of Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after buying an additional 13,531 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Kellanova in the 4th quarter worth approximately $384,000. FNY Investment Advisers LLC purchased a new position in shares of Kellanova during the fourth quarter valued at approximately $2,490,000. Finally, Barclays PLC raised its holdings in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.0 %

Kellanova stock traded down $0.02 during mid-day trading on Monday, hitting $82.35. The company had a trading volume of 2,690,346 shares, compared to its average volume of 2,734,618. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a market capitalization of $28.43 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The stock's 50 day moving average price is $82.36 and its two-hundred day moving average price is $81.54. 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 announced its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the completion of the transaction, the insider now directly owns 48,420,361 shares of the company's stock, valued at $3,955,459,290.09. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 1,374,996 shares of company stock worth $113,098,004. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on K. StockNews.com initiated coverage on shares of Kellanova in a research report on Monday. They set a "buy" rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.