Pictet Asset Management Holding SA Acquires 18,045 Shares of Kellanova (NYSE:K)

Pictet Asset Management Holding SA raised its position in shares of Kellanova (NYSE:K - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 164,657 shares of the company's stock after purchasing an additional 18,045 shares during the quarter. Pictet Asset Management Holding SA's holdings in Kellanova were worth $13,332,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Kellanova by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 117,899 shares of the company's stock valued at $9,546,000 after purchasing an additional 592 shares in the last quarter. Norges Bank purchased a new position in Kellanova in the 4th quarter worth about $285,126,000. Caisse Des Depots ET Consignations bought a new position in Kellanova during the 4th quarter valued at about $1,744,000. NEOS Investment Management LLC lifted its stake in Kellanova by 28.5% during the 4th quarter. NEOS Investment Management LLC now owns 11,183 shares of the company's stock valued at $905,000 after acquiring an additional 2,483 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Kellanova by 23.0% during the 4th quarter. UniSuper Management Pty Ltd now owns 31,250 shares of the company's stock valued at $2,530,000 after acquiring an additional 5,852 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the completion of the transaction, the insider now owns 47,389,114 shares of the company's stock, valued at $3,906,758,558.16. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,473,032. Corporate insiders own 1.80% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research report on Saturday. They issued a "hold" rating on the stock. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kellanova presently has an average rating of "Hold" and a consensus price target of $77.96.

Kellanova Stock Performance

NYSE K traded down $0.30 on Friday, reaching $82.25. 5,082,449 shares of the stock were exchanged, compared to its average volume of 2,678,345. 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 one year low of $55.01 and a one year high of $83.22. The firm has a market capitalization of $28.39 billion, a PE ratio of 21.25, a PEG ratio of 4.21 and a beta of 0.34. The company's 50-day simple moving average is $82.31 and its two-hundred day simple moving average is $81.40.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. 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 presently 58.91%.

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.