New York Life Investment Management LLC Boosts Stake in Kellanova (NYSE:K)

New York Life Investment Management LLC boosted its position in Kellanova (NYSE:K - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,275 shares of the company's stock after buying an additional 21,947 shares during the period. New York Life Investment Management LLC's holdings in Kellanova were worth $10,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova in the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new position in Kellanova in the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. boosted its position in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after purchasing an additional 173 shares in the last quarter. Assetmark Inc. grew its stake in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock worth $51,000 after purchasing an additional 131 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kellanova during the 3rd quarter worth approximately $55,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

NYSE K traded up $0.24 during mid-day trading on Monday, hitting $82.57. The stock had a trading volume of 1,941,058 shares, compared to its average volume of 2,393,992. The firm's 50 day moving average is $81.77 and its 200 day moving average is $81.06. 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 stock has a market capitalization of $28.50 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.94.

Kellanova (NYSE:K - Get Free Report) last issued 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%. Equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, March 3rd. Kellanova's dividend payout ratio is currently 58.91%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on K. StockNews.com initiated coverage on shares of Kellanova in a research note on Monday, February 24th. They issued a "hold" rating for the company. Royal Bank of Canada upgraded shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price objective for the company in a research report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus price target of $77.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the sale, the insider now owns 48,878,693 shares of the company's stock, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 1,145,830 shares of company stock worth $93,461,916 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

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.