Erste Asset Management GmbH increased its stake in Kellanova (NYSE:K - Free Report) by 7.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,950 shares of the company's stock after acquiring an additional 7,600 shares during the period. Erste Asset Management GmbH's holdings in Kellanova were worth $8,518,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new position in Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova in the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova during the 4th quarter valued at $32,000. First Horizon Advisors Inc. raised its position in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after purchasing an additional 173 shares during the period. Finally, Sherman Asset Management Inc. purchased a new stake in Kellanova during the fourth quarter valued at about $43,000. Institutional investors own 83.87% of the company's stock.
Kellanova Stock Up 0.0 %
Shares of NYSE K opened at $82.30 on Friday. The firm has a fifty day simple moving average of $82.03 and a two-hundred day simple moving average of $81.18. The firm has a market capitalization of $28.41 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 has a 12 month low of $52.46 and a 12 month high of $83.22.
Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities analysts expect that Kellanova will post 3.93 earnings per share for the current year.
Kellanova Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's payout ratio is 58.91%.
Insider Buying and Selling at Kellanova
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 1,145,830 shares of company stock valued at $93,673,894. 1.80% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
K has been the topic of a number of analyst reports. Royal Bank of Canada raised Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. StockNews.com assumed coverage on shares of Kellanova in a report on Wednesday. They set a "hold" rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Kellanova currently has an average rating of "Hold" and a consensus target price of $77.96.
Get Our Latest Stock Report on Kellanova
Kellanova Company Profile
(
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.
Further Reading
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