FIL Ltd Has $193.36 Million Stock Position in Kellanova (NYSE:K)

FIL Ltd boosted its holdings in Kellanova (NYSE:K - Free Report) by 182.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,388,000 shares of the company's stock after acquiring an additional 1,542,000 shares during the quarter. FIL Ltd owned 0.69% of Kellanova worth $193,356,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new position in shares of Kellanova during the 4th quarter valued at about $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the fourth quarter worth approximately $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova in the 4th quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. boosted its stake in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares during the period. Institutional investors own 83.87% of the company's stock.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the completion of the sale, the insider now directly owns 48,420,361 shares in the company, valued at approximately $3,955,459,290.09. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,558,970 in the last quarter. Company insiders own 1.80% of the company's stock.

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Kellanova Stock Performance

Shares of Kellanova stock traded up $0.16 on Monday, hitting $82.45. The stock had a trading volume of 590,744 shares, compared to its average volume of 2,598,011. The stock has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The business's 50 day moving average is $82.33 and its two-hundred day moving average is $81.47.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. Analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Analysts Set New Price Targets

K has been the topic of several research analyst reports. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com initiated coverage on shares of Kellanova in a research note on Sunday. They issued a "hold" rating for the company. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Kellanova presently has an average rating of "Hold" and a consensus price target of $77.96.

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.