Kellanova (NYSE:K) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Kellanova (NYSE:K - Free Report) by 839.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,128 shares of the company's stock after purchasing an additional 60,874 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Kellanova were worth $5,516,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Independent Advisor Alliance raised its stake in Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after purchasing an additional 1,019 shares during the period. Aviva PLC lifted its holdings in shares of Kellanova by 2.6% in the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after buying an additional 13,531 shares in the last quarter. Wedmont Private Capital purchased a new position in Kellanova during the fourth quarter valued at $384,000. FNY Investment Advisers LLC bought a new stake in Kellanova in the 4th quarter valued at $2,490,000. Finally, Barclays PLC lifted its stake in Kellanova by 134.7% in the 3rd 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. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on K. StockNews.com cut Kellanova from a "buy" rating to a "hold" rating in a report on Friday. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $79.41.

Kellanova Trading Down 0.1 %

Kellanova stock traded down $0.07 during midday trading on Tuesday, reaching $82.54. The stock had a trading volume of 2,602,585 shares, compared to its average volume of 2,687,184. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The company has a fifty day moving average of $82.40 and a 200 day moving average of $81.67. The firm has a market cap of $28.49 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 company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS 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 company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company's revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred 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 owns 48,076,612 shares in the company, valued at $3,954,301,337. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 1,260,413 shares of company stock valued at $103,801,886 over the last three months. 1.80% of the stock is owned by company insiders.

Kellanova 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.