Universal Beteiligungs und Servicegesellschaft mbH Purchases New Position in Kellanova (NYSE:K)

Universal Beteiligungs und Servicegesellschaft mbH 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 186,960 shares of the company's stock, valued at approximately $15,138,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.05% of Kellanova at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Independent Advisor Alliance lifted its stake in shares of Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after buying an additional 1,019 shares during the last quarter. Aviva PLC lifted its stake in shares of Kellanova by 2.6% during the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after buying an additional 13,531 shares during the last quarter. Alpine Associates Management Inc. lifted its stake in shares of Kellanova by 93.5% during the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after buying an additional 296,150 shares during the last quarter. Decagon Asset Management LLP acquired a new stake in shares of Kellanova during the 4th quarter worth about $10,125,000. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Kellanova by 12.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 164,657 shares of the company's stock worth $13,332,000 after buying an additional 18,045 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on K shares. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research note on Thursday, May 29th. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.75.

Kellanova Price Performance

Shares of NYSE:K traded down $0.24 during midday trading on Tuesday, hitting $81.89. The stock had a trading volume of 2,993,687 shares, compared to its average volume of 2,769,980. The company's 50-day moving average price is $82.36 and its 200-day moving average price is $81.88. The company has a market capitalization of $28.41 billion, a P/E ratio of 21.16, 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 has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

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

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.78%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the sale, the insider now directly owns 47,618,280 shares of the company's stock, valued at approximately $3,917,079,712.80. The trade was a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 1,374,996 shares of company stock valued at $113,174,775. 1.80% of the stock is owned by 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.