DnB Asset Management AS Buys 5,242 Shares of Kellanova (NYSE:K)

DnB Asset Management AS increased its stake in shares of Kellanova (NYSE:K - Free Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 62,545 shares of the company's stock after buying an additional 5,242 shares during the period. DnB Asset Management AS's holdings in Kellanova were worth $5,064,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Kellanova in the fourth quarter worth $285,126,000. Barclays PLC boosted its position in shares of Kellanova by 134.7% during 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 raised its position in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company's stock valued at $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP boosted its holdings in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company's stock valued at $131,091,000 after purchasing an additional 632,510 shares in the last quarter. Finally, Cibc World Markets Corp raised its holdings in shares of Kellanova by 538.6% during the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company's stock worth $47,423,000 after buying an additional 493,976 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Up 0.0 %

Shares of K traded up $0.01 during trading hours on Thursday, hitting $82.46. The company had a trading volume of 1,280,463 shares, compared to its average volume of 2,668,741. The firm has a market cap of $28.46 billion, a P/E ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The stock's 50 day moving average price is $82.28 and its 200 day moving average price is $81.38. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

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Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data 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 net margin of 10.53% and a return on equity of 37.25%. On average, research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's payout ratio is 58.91%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the sale, the insider now directly owns 47,389,114 shares of the company's stock, valued at $3,906,758,558.16. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,260,413 shares of company stock valued at $103,473,032 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on K shares. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com started coverage on Kellanova in a research note on Friday, March 28th. They issued a "hold" rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $77.96.

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.