Kellanova (NYSE:K) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI grew its position in shares of Kellanova (NYSE:K - Free Report) by 74.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,776 shares of the company's stock after acquiring an additional 116,572 shares during the period. National Bank of Canada FI owned about 0.08% of Kellanova worth $22,168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of K. Franklin Resources Inc. increased its stake in Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after purchasing an additional 2,313,047 shares in the last quarter. Alliancebernstein L.P. grew its position in Kellanova by 10.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,006,698 shares of the company's stock valued at $81,512,000 after buying an additional 97,490 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Kellanova by 5.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 21,389 shares of the company's stock worth $1,732,000 after purchasing an additional 1,153 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Kellanova by 174.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 13,210 shares of the company's stock valued at $1,077,000 after buying an additional 8,404 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Kellanova during the fourth quarter valued at approximately $138,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the completion of the sale, the insider now owns 48,534,944 shares of the company's stock, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,260,413 shares of company stock worth $103,473,032 in the last three months. Corporate insiders own 1.80% of the company's stock.

Kellanova Stock Down 0.4 %

Shares of NYSE:K traded down $0.30 during trading on Friday, hitting $82.25. The company's stock had a trading volume of 5,082,449 shares, compared to its average volume of 2,678,345. The business has a 50 day moving average price of $82.31 and a two-hundred day moving average price of $81.39. 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 company has a market capitalization of $28.39 billion, a PE ratio of 21.25, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.92 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%. As a group, research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on K. StockNews.com began coverage on shares of Kellanova in a report on Saturday. They issued 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 research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $77.96.

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.