Impax Asset Management Group plc Has $8.41 Million Stake in Kellanova (NYSE:K)

Impax Asset Management Group plc grew its stake in Kellanova (NYSE:K - Free Report) by 49.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,988 shares of the company's stock after buying an additional 33,688 shares during the quarter. Impax Asset Management Group plc's holdings in Kellanova were worth $8,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in K. Norges Bank acquired a new position in Kellanova during the fourth quarter worth $285,126,000. Franklin Resources Inc. raised its position in Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after acquiring an additional 2,313,047 shares in the last quarter. FIL Ltd raised its position in Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after acquiring an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL raised 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 acquiring an additional 1,006,100 shares in the last quarter. Finally, TIG Advisors LLC raised 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 acquiring an additional 813,901 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank Of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $79.75.

Kellanova Stock Performance

NYSE:K traded down $0.27 during mid-day trading on Tuesday, reaching $79.39. 2,822,384 shares of the company's stock were exchanged, compared to its average volume of 3,004,199. Kellanova has a one year low of $55.96 and a one year high of $83.22. The firm has a market capitalization of $27.54 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 4.22 and a beta of 0.28. The business's fifty day simple moving average is $81.24 and its two-hundred day simple moving average is $81.76. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80.

Kellanova (NYSE:K - Get Free Report) last released 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 34.80% and a net margin of 10.93%. 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 prior year, the business posted $1.01 earnings per share. Kellanova's revenue was down 3.7% compared to the same quarter last year. Analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.87%. Kellanova's dividend payout ratio is 57.58%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the sale, the insider directly owned 45,899,535 shares in the company, valued at $3,657,274,948.80. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,374,996 shares of company stock worth $111,795,196 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

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.