Peak6 LLC Buys Shares of 6,851 Kellanova (NYSE:K)

Peak6 LLC purchased a new position in shares of Kellanova (NYSE:K - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,851 shares of the company's stock, valued at approximately $555,000.

A number of other institutional investors have also modified their holdings of K. Norges Bank acquired a new stake in Kellanova in the 4th quarter worth about $285,126,000. Franklin Resources Inc. lifted its holdings in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after acquiring an additional 2,313,047 shares during the period. FIL Ltd boosted its position in shares of Kellanova by 182.3% in the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Barclays PLC grew 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 purchasing an additional 1,033,383 shares during the period. Finally, Cibc World Markets Corp increased its position in Kellanova by 538.6% during the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company's stock worth $47,423,000 after purchasing an additional 493,976 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

K has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Kellanova in a report on Monday. They issued a "buy" rating on the stock. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $77.96.

Kellanova Trading Up 0.1 %

Shares of K opened at $82.37 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The stock has a market cap of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.34. The stock's 50-day moving average is $82.35 and its two-hundred day moving average is $81.52.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total value of $9,385,493.53. Following the transaction, the insider now directly owns 48,305,778 shares of the company's stock, valued at $3,956,726,275.98. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 1,260,413 shares of company stock valued at $103,672,407 in the last quarter. Company insiders own 1.80% of the company's stock.

Kellanova Company 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.

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