Erste Asset Management GmbH Boosts Position in Kellanova (NYSE:K)

Erste Asset Management GmbH increased its position in Kellanova (NYSE:K - Free Report) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,950 shares of the company's stock after acquiring an additional 7,600 shares during the quarter. Erste Asset Management GmbH's holdings in Kellanova were worth $8,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new position in Kellanova during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new position in Kellanova during the fourth quarter valued at $32,000. First Horizon Advisors Inc. increased its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after acquiring an additional 173 shares during the last quarter. Finally, Sherman Asset Management Inc. bought a new position in Kellanova during the fourth quarter valued at $43,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

K has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price objective on the stock in a research report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday. They issued a "hold" rating on the stock. Thirteen equities research 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, Kellanova presently has a consensus rating of "Hold" and a consensus target price of $77.96.

Remove Ads

Kellanova Stock Down 0.1 %

Kellanova stock traded down $0.09 during midday trading on Friday, hitting $82.22. 2,021,662 shares of the company's stock were exchanged, compared to its average volume of 2,434,669. 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 12 month low of $52.53 and a 12 month high of $83.22. The firm has a 50-day moving average of $82.05 and a two-hundred day moving average of $81.19. The company has a market cap of $28.38 billion, a PE ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.31.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's payout ratio is 58.91%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 48,764,110 shares of the company's stock, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is currently owned by insiders.

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.