Geode Capital Management LLC Purchases 158,560 Shares of Kellanova (NYSE:K)

Geode Capital Management LLC grew its holdings in Kellanova (NYSE:K - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,884,092 shares of the company's stock after purchasing an additional 158,560 shares during the quarter. Geode Capital Management LLC owned about 2.00% of Kellanova worth $556,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in K. Townsquare Capital LLC bought a new stake in Kellanova in the third quarter valued at $414,000. Public Sector Pension Investment Board increased its position in Kellanova by 26.6% in the third quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company's stock worth $884,000 after purchasing an additional 2,300 shares during the period. Benjamin Edwards Inc. acquired a new position in Kellanova in the third quarter valued at approximately $636,000. Chevy Chase Trust Holdings LLC boosted its position in shares of Kellanova by 0.5% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 144,439 shares of the company's stock worth $11,658,000 after purchasing an additional 731 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Kellanova by 91.2% during the 3rd quarter. Janus Henderson Group PLC now owns 196,185 shares of the company's stock worth $15,833,000 after buying an additional 93,586 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Insider Transactions 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 on Monday, April 7th. The stock was sold at an average price of $82.03, for a total value of $9,399,243.49. Following the sale, the insider now directly owns 47,274,531 shares in the company, valued at $3,877,929,777.93. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 1,260,413 shares of company stock worth $103,558,970 in the last ninety days. Company insiders own 1.80% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently commented on K. StockNews.com started coverage on Kellanova in a research note on Saturday. They set 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova has an average rating of "Hold" and a consensus target price of $77.96.

Kellanova Stock Up 0.7 %

K stock traded up $0.56 during trading on Wednesday, reaching $82.25. 5,288,225 shares of the stock were exchanged, compared to its average volume of 2,726,660. 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 twelve month low of $55.01 and a twelve month high of $83.22. The firm's 50 day moving average is $82.32 and its 200 day moving average is $81.44. The firm has a market cap of $28.39 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

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 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%. As a group, research analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 of this dividend was Monday, March 3rd. Kellanova's dividend payout ratio is presently 58.91%.

About Kellanova

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.