Kellanova (NYSE:K) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc raised its holdings in Kellanova (NYSE:K - Free Report) by 49.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,988 shares of the company's stock after buying an additional 33,688 shares during the period. Impax Asset Management Group plc's holdings in Kellanova were worth $8,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of K. Norges Bank acquired a new stake in Kellanova during the 4th quarter worth $285,126,000. Franklin Resources Inc. increased its position in shares of 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 purchasing an additional 2,313,047 shares in the last quarter. FIL Ltd increased its position in shares of 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 purchasing an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of 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 in the last quarter. Finally, TIG Advisors LLC increased 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 buying an additional 813,901 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $78.42, for a total transaction of $8,985,598.86. Following the transaction, the insider directly owned 46,128,701 shares in the company, valued at approximately $3,617,412,732.42. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,374,996 shares of company stock worth $112,064,466 over the last quarter. Corporate insiders own 1.80% of the company's stock.

Kellanova Stock Performance

K traded up $0.04 during trading on Friday, hitting $80.04. The stock had a trading volume of 1,739,002 shares, compared to its average volume of 3,000,808. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The company's 50-day moving average price is $81.30 and its 200 day moving average price is $81.76. The firm has a market capitalization of $27.77 billion, a P/E ratio of 20.21, a PEG ratio of 4.24 and a beta of 0.28.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (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 firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company's revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.85%. Kellanova's dividend payout ratio is presently 57.58%.

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.