ASR Vermogensbeheer N.V. Makes New $4.85 Million Investment in Kellanova (NYSE:K)

Key Points

• ASR Vermogensbeheer N.V. has made a new investment in Kellanova, purchasing approximately $4.85 million in shares during the first quarter of the year.
• Several institutional investors significantly increased their holdings in Kellanova during the fourth quarter, with Sona Asset Management boosting its stake by 427.9%.
• Kellanova recently declared a quarterly dividend of $0.58 per share, up from the previous $0.57, reflecting a 2.9% dividend yield.

ASR Vermogensbeheer N.V. purchased a new position in shares of Kellanova (NYSE:K - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 58,786 shares of the company's stock, valued at approximately $4,849,000.

Other institutional investors have also recently made changes to their positions in the company. Tudor Investment Corp ET AL boosted its position in Kellanova by 136.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after purchasing an additional 1,006,100 shares during the period. TIG Advisors LLC boosted its position in Kellanova by 76.5% during the fourth quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock worth $152,084,000 after purchasing an additional 813,901 shares during the period. Bank of America Corp DE boosted its position in Kellanova by 43.1% during the fourth quarter. Bank of America Corp DE now owns 2,255,889 shares of the company's stock worth $182,659,000 after purchasing an additional 679,754 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Kellanova by 107.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,262,032 shares of the company's stock worth $102,187,000 after purchasing an additional 653,504 shares during the period. Finally, Sona Asset Management US LLC boosted its stake in Kellanova by 427.9% in the 4th quarter. Sona Asset Management US LLC now owns 698,073 shares of the company's stock valued at $56,523,000 after purchasing an additional 565,839 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Performance

NYSE:K opened at $80.08 on Friday. The stock has a fifty day moving average price of $80.04 and a 200-day moving average price of $81.52. The company has a market cap of $27.84 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 4.95 and a beta of 0.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a fifty-two week low of $72.27 and a fifty-two week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, equities analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Kellanova's previous quarterly dividend of $0.57. Kellanova's payout ratio is 60.89%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $79.79, for a total transaction of $9,142,577.57. Following the completion of the transaction, the insider owned 45,555,786 shares of the company's stock, valued at approximately $3,634,896,164.94. The trade was a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 1,260,413 shares of company stock worth $101,431,163. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on K shares. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research note on Thursday, May 29th. Twelve equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $81.80.

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.

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