Vanguard Group Inc. Buys 281,137 Shares of Kellanova (NYSE:K)

Vanguard Group Inc. grew its holdings in Kellanova (NYSE:K - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,435,744 shares of the company's stock after purchasing an additional 281,137 shares during the period. Vanguard Group Inc. owned approximately 9.41% of Kellanova worth $2,626,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department purchased a new position in Kellanova in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova during the 4th quarter worth about $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of 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 buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on K shares. StockNews.com began coverage on shares of Kellanova in a research report on Friday. They set a "hold" rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.96.

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Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,374,996 shares of company stock worth $112,737,068 in the last ninety days. Insiders own 1.80% of the company's stock.

Kellanova Stock Performance

Shares of NYSE:K traded down $0.03 during midday trading on Friday, hitting $82.43. The company's stock had a trading volume of 1,328,230 shares, compared to its average volume of 2,672,537. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. The stock's 50 day simple moving average is $82.24 and its 200 day simple moving average is $81.34.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate 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 anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis 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 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.