Invesco Ltd. grew its position in shares of Kellanova (NYSE:K - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,168,070 shares of the company's stock after purchasing an additional 111,396 shares during the period. Invesco Ltd. owned approximately 1.21% of Kellanova worth $337,489,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in shares of Kellanova by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC increased its stake in Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company's stock worth $67,000 after acquiring an additional 140 shares during the last quarter. Sanctuary Advisors LLC raised its position in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock valued at $690,000 after purchasing an additional 145 shares during the period. OneAscent Financial Services LLC raised its position in Kellanova by 4.7% during the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock valued at $268,000 after purchasing an additional 149 shares during the period. Finally, SPC Financial Inc. boosted its holdings in shares of Kellanova by 5.7% in the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock worth $241,000 after purchasing an additional 160 shares during the period. 83.87% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on K shares. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com assumed coverage on shares of Kellanova in a report on Sunday. They issued a "hold" rating for the company. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Kellanova has an average rating of "Hold" and a consensus price target of $77.96.
Read Our Latest Analysis on K
Kellanova Trading Down 0.1 %
Shares of NYSE K traded down $0.11 during trading hours on Tuesday, reaching $82.34. The stock had a trading volume of 537,727 shares, compared to its average volume of 2,722,353. The business's fifty day moving average price is $82.35 and its two-hundred day moving average price is $81.48. The firm has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. 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 (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%. Analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.
Kellanova Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis 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 business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the sale, the insider now owns 48,420,361 shares of the company's stock, valued at approximately $3,955,459,290.09. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 1,260,413 shares of company stock worth $103,672,407 over the last three months. Corporate insiders own 1.80% of the company's stock.
About Kellanova
(
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.
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