Advanced Portfolio Management LLC Acquires Shares of 15,520 Kellanova (NYSE:K)

Advanced Portfolio Management LLC purchased a new position in shares of Kellanova (NYSE:K - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,520 shares of the company's stock, valued at approximately $1,268,000. Kellanova comprises approximately 1.5% of Advanced Portfolio Management LLC's portfolio, making the stock its 24th biggest holding.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Kellanova in the fourth quarter worth about $285,126,000. Franklin Resources Inc. increased its holdings in Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after acquiring an additional 2,313,047 shares during the last quarter. FIL Ltd boosted its stake in Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Barclays PLC increased its position 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 during the last quarter. Finally, Tudor Investment Corp ET AL grew its position in Kellanova by 136.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after acquiring an additional 1,006,100 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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 lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Kellanova has an average rating of "Hold" and an average target price of $79.41.

Kellanova Stock Up 0.0 %

K stock traded up $0.01 during trading on Wednesday, reaching $82.55. 2,593,087 shares of the company traded hands, compared to its average volume of 2,686,808. The company has a market capitalization of $28.50 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The business has a 50 day simple moving average of $82.40 and a 200 day simple moving average of $81.68. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

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

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio is currently 57.58%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares in the company, valued at $3,954,301,337. 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 available at this hyperlink. Insiders have sold 1,374,996 shares of company stock valued at $113,261,858 over the last ninety days. 1.80% of the stock is currently owned by insiders.

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.