Kellanova (NYSE:K) Stock Position Boosted by Mizuho Securities USA LLC

Mizuho Securities USA LLC boosted its position in Kellanova (NYSE:K - Free Report) by 46.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,482 shares of the company's stock after acquiring an additional 8,086 shares during the period. Mizuho Securities USA LLC's holdings in Kellanova were worth $2,063,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the 4th quarter worth about $27,000. BankPlus Trust Department bought a new stake in Kellanova during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the 4th quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. raised its stake in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Kellanova Stock Down 0.0 %

Shares of K traded down $0.03 during midday 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 market cap 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 company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company's fifty day simple moving average is $82.22 and its two-hundred day simple moving average is $81.31. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22.

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Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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%. Equities research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

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

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the transaction, the insider now directly owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 1,374,996 shares of company stock valued at $112,737,068. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a research report on Friday. They issued a "hold" rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Kellanova presently has an average rating of "Hold" and a consensus price target of $77.96.

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.