Swiss National Bank Boosts Stake in Kellanova (NYSE:K)

Swiss National Bank lifted its holdings in 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 quarter. Swiss National Bank owned 0.26% of Kellanova worth $71,812,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kellanova by 5.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,640 shares of the company's stock valued at $376,000 after acquiring an additional 225 shares during the period. Essential Planning LLC. acquired a new position in shares of Kellanova in the 4th quarter valued at $1,050,000. Great Lakes Advisors LLC boosted its holdings in Kellanova by 168.2% during the fourth quarter. Great Lakes Advisors LLC now owns 7,284 shares of the company's stock worth $590,000 after buying an additional 4,568 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Kellanova by 6.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 10,291 shares of the company's stock valued at $833,000 after buying an additional 580 shares during the period. Finally, HighTower Advisors LLC grew its position in Kellanova by 112.9% during the fourth quarter. HighTower Advisors LLC now owns 33,946 shares of the company's stock valued at $2,749,000 after buying an additional 18,001 shares during the period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the completion of the transaction, the insider now directly owns 47,618,280 shares in the company, valued at approximately $3,917,079,712.80. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,260,413 shares of company stock worth $103,099,492 in the last quarter. Company insiders own 1.80% of the company's stock.

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Analyst Upgrades and Downgrades

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

Kellanova Price Performance

Shares of K traded down $0.03 during trading hours on Tuesday, hitting $82.36. 1,605,481 shares of the stock were exchanged, compared to its average volume of 2,569,732. The stock's 50-day moving average price is $82.09 and its two-hundred day moving average price is $81.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 12-month low of $54.47 and a 12-month high of $83.22.

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%. Research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

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.