Trans Canada Capital Inc. Buys New Shares in Kellanova (NYSE:K)

Trans Canada Capital Inc. bought a new position in Kellanova (NYSE:K - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the company's stock, valued at approximately $2,429,000. Kellanova accounts for 0.3% of Trans Canada Capital Inc.'s holdings, making the stock its 11th largest holding.

Other hedge funds have also modified their holdings of the company. Independent Advisor Alliance raised its holdings in Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after acquiring an additional 1,019 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company's stock valued at $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Kellanova during the fourth quarter worth about $384,000. Barclays PLC grew its stake in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its holdings in Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock valued at $49,622,000 after buying an additional 296,150 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research report on Saturday. They issued a "hold" rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $77.96.

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Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the transaction, the insider now directly owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Shares of K traded down $0.30 during mid-day trading on Friday, reaching $82.25. 5,082,449 shares of the company's stock traded hands, compared to its average volume of 2,678,345. 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 business's 50-day moving average price is $82.31 and its 200-day moving average price is $81.40. The stock has a market capitalization of $28.39 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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 analysts predict that Kellanova will post 3.93 earnings per share 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. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's payout ratio is 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.