Franklin Resources Inc. Purchases 2,313,047 Shares of Kellanova (NYSE:K)

Franklin Resources Inc. lifted its stake in Kellanova (NYSE:K - Free Report) by 869.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,579,058 shares of the company's stock after purchasing an additional 2,313,047 shares during the period. Franklin Resources Inc. owned 0.75% of Kellanova worth $208,826,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Kellanova in the fourth quarter worth $285,126,000. Barclays PLC increased its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. State Street Corp lifted its position in 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 acquiring an additional 731,273 shares during the period. Ilex Capital Partners UK LLP boosted its stake in Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company's stock worth $131,091,000 after acquiring an additional 632,510 shares in the last quarter. Finally, Cibc World Markets Corp grew its holdings in Kellanova by 538.6% in the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company's stock worth $47,423,000 after purchasing an additional 493,976 shares during the period. Institutional investors own 83.87% of the company's stock.

Kellanova Stock Performance

Shares of K traded up $0.07 during trading hours on Thursday, hitting $82.52. The stock had a trading volume of 2,143,496 shares, compared to its average volume of 2,668,727. The firm has a market capitalization of $28.49 billion, a PE ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The stock has a fifty day moving average price of $82.30 and a 200 day moving average price of $81.38.

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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, 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 anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's payout ratio is presently 58.91%.

Insider Transactions at Kellanova

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 Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the transaction, the insider now directly owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock worth $103,473,032 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on K. StockNews.com assumed coverage on Kellanova in a research report on Friday, March 28th. They issued a "hold" rating on the stock. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.