Envestnet Portfolio Solutions Inc. Invests $666,000 in Kellanova (NYSE:K)

Envestnet Portfolio Solutions Inc. acquired a new position in Kellanova (NYSE:K - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,226 shares of the company's stock, valued at approximately $666,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Westchester Capital Management LLC bought a new stake in shares of Kellanova during the third quarter valued at approximately $107,795,000. Barclays PLC boosted its holdings in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. State Street Corp boosted its holdings in shares of Kellanova by 5.2% during the 3rd 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 in the last quarter. Ilex Capital Partners UK LLP grew its position in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company's stock worth $131,091,000 after buying an additional 632,510 shares during the period. Finally, Syquant Capital Sas bought a new position in shares of Kellanova in the 4th quarter worth about $29,595,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $3,906,758,558.16. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 1,374,996 shares of company stock valued at $112,737,068. Company insiders own 1.80% of the company's stock.

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Kellanova Stock Down 0.0 %

Shares of K stock traded down $0.03 during mid-day trading on Friday, hitting $82.43. The company's stock had a trading volume of 1,328,230 shares, compared to its average volume of 2,673,641. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. 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 $55.01 and a 52-week high of $83.22. The business has a 50-day moving average price of $82.22 and a 200 day moving average price of $81.31.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business 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 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova's dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a report on Friday. They issued a "hold" rating on the stock. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Kellanova has an average rating of "Hold" and a consensus target price 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.