Kellanova (NYSE:K) Position Raised by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in shares of Kellanova (NYSE:K - Free Report) by 52.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,434 shares of the company's stock after buying an additional 11,561 shares during the period. Nordea Investment Management AB's holdings in Kellanova were worth $2,704,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Choreo LLC increased its stake in Kellanova by 101.2% in the 2nd quarter. Choreo LLC now owns 7,966 shares of the company's stock valued at $453,000 after purchasing an additional 4,007 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Kellanova by 28.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,327 shares of the company's stock valued at $1,980,000 after purchasing an additional 7,605 shares in the last quarter. American Century Companies Inc. increased its stake in Kellanova by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 36,893 shares of the company's stock valued at $2,128,000 after purchasing an additional 4,737 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Kellanova in the 2nd quarter valued at approximately $288,000. Finally, Meeder Advisory Services Inc. purchased a new position in Kellanova in the 2nd quarter valued at approximately $222,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

Shares of NYSE K remained flat at $81.54 during midday trading on Friday. The stock had a trading volume of 1,821,055 shares, compared to its average volume of 1,921,259. The company has a market capitalization of $28.11 billion, a PE ratio of 28.02, a PEG ratio of 2.59 and a beta of 0.37. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58. The stock's 50-day moving average price is $80.89 and its two-hundred day moving average price is $75.83. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. Analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. Kellanova's payout ratio is currently 78.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on K. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. StockNews.com began coverage on Kellanova in a report on Tuesday, January 7th. They set a "hold" rating on the stock. Finally, Argus cut Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $76.35.

Insider Buying and Selling 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 Monday, October 14th. The stock was sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the completion of the transaction, the insider now directly owns 49,909,940 shares in the company, valued at approximately $4,024,238,462.20. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,031,247 shares of company stock worth $83,418,716 over the last ninety days. Company 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.