Kellanova (NYSE:K) Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC raised its holdings in shares of Kellanova (NYSE:K - Free Report) by 55.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,540 shares of the company's stock after purchasing an additional 5,544 shares during the period. Sterling Capital Management LLC's holdings in Kellanova were worth $1,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of K. Oregon Public Employees Retirement Fund raised its stake in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after acquiring an additional 130 shares in the last quarter. Quent Capital LLC increased its position in shares of Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company's stock worth $67,000 after purchasing an additional 140 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock worth $690,000 after purchasing an additional 145 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in shares of Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock valued at $268,000 after purchasing an additional 149 shares during the last quarter. Finally, SPC Financial Inc. boosted its position in shares of Kellanova by 5.7% in the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock worth $241,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on K. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com began coverage on Kellanova in a research note on Sunday, April 13th. They set a "hold" rating for the company. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $77.96.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the sale, the insider now owns 48,305,778 shares of the company's stock, valued at approximately $3,956,726,275.98. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,260,413 shares of company stock worth $103,672,407 over the last three months. Company insiders own 1.80% of the company's stock.

Kellanova Price Performance

K stock traded up $0.08 during mid-day trading on Friday, reaching $82.37. The company's stock had a trading volume of 1,933,260 shares, compared to its average volume of 2,734,816. 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 company's 50 day moving average is $82.35 and its two-hundred day moving average is $81.51. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

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.