NorthRock Partners LLC Takes $858,000 Position in Kellanova (NYSE:K)

NorthRock Partners LLC acquired a new stake in Kellanova (NYSE:K - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,594 shares of the company's stock, valued at approximately $858,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of K. Vanguard Group Inc. boosted its holdings in Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after purchasing an additional 281,137 shares during the period. Geode Capital Management LLC boosted its holdings in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares during the period. Pentwater Capital Management LP boosted its holdings in Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock valued at $465,982,000 after purchasing an additional 450,700 shares during the period. Invesco Ltd. boosted its holdings in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after purchasing an additional 111,396 shares during the period. Finally, Northern Trust Corp raised its position in shares of Kellanova by 15.7% in the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after buying an additional 530,132 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the completion of the sale, the insider now directly owns 47,732,863 shares of the company's stock, valued at approximately $3,940,347,840.65. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,786,990. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on K. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average target price of $79.41.

Kellanova Trading Up 0.1%

K traded up $0.10 during trading on Monday, reaching $82.40. 5,214,501 shares of the company's stock were exchanged, compared to its average volume of 2,739,980. Kellanova has a one year low of $55.96 and a one year 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. The stock has a market capitalization of $28.59 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The firm has a fifty day moving average price of $82.37 and a two-hundred day moving average price of $81.76.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The company's revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio is currently 57.58%.

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.