Kellanova (NYSE:K) Shares Acquired by Swiss National Bank

Swiss National Bank increased its holdings in shares of Kellanova (NYSE:K - Free Report) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 886,900 shares of the company's stock after acquiring an additional 75,100 shares during the period. Swiss National Bank owned approximately 0.26% of Kellanova worth $71,812,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department purchased a new stake in Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the fourth quarter worth $32,000. First Horizon Advisors Inc. boosted its position in Kellanova by 64.8% during the fourth 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. Finally, Sherman Asset Management Inc. purchased a new stake in Kellanova during the fourth quarter worth $43,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Up 0.1 %

NYSE K traded up $0.08 during trading hours on Tuesday, hitting $82.46. 258,600 shares of the company's stock were exchanged, compared to its average volume of 2,371,767. The business's 50 day moving average is $82.07 and its 200-day moving average is $81.20. Kellanova has a 12-month low of $54.47 and a 12-month high of $83.22. The firm has a market capitalization of $28.46 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

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

Kellanova Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's dividend payout ratio is presently 58.91%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the sale, the insider now owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,260,413 shares of company stock worth $103,099,492 over the last three months. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on K. Royal Bank of Canada upgraded Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 target price on the stock in a research report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research report on Wednesday, March 12th. They set a "hold" rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $77.96.

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.