KLP Kapitalforvaltning AS Makes New $7.90 Million Investment in Kellanova (NYSE:K)

KLP Kapitalforvaltning AS bought a new position in shares of Kellanova (NYSE:K - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,518 shares of the company's stock, valued at approximately $7,896,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Kellanova by 5.2% in the 3rd 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 during the last quarter. Geode Capital Management LLC raised its position in shares of Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company's stock worth $541,052,000 after buying an additional 196,564 shares during the period. Barclays PLC boosted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Kellanova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company's stock valued at $136,103,000 after acquiring an additional 50,303 shares during the period. Finally, Ilex Capital Partners UK LLP increased its stake in Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company's stock worth $131,091,000 after acquiring an additional 632,510 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

Kellanova Stock Down 0.0 %

K stock traded down $0.03 during trading on Friday, reaching $82.43. The stock had a trading volume of 1,328,230 shares, compared to its average volume of 2,672,536. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average price of $82.24 and a 200 day moving average price of $81.32. The company has a market capitalization of $28.45 billion, a P/E ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced 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%. On average, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

Insider Activity at Kellanova

In other 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 7th. The stock was sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the sale, the insider now directly owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,374,996 shares of company stock valued at $112,737,068 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

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.