Kellanova (NYSE:K) Shares Bought by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in Kellanova (NYSE:K - Free Report) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 635,813 shares of the company's stock after acquiring an additional 139,619 shares during the period. Royal Bank of Canada owned approximately 0.18% of Kellanova worth $51,481,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new stake in Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova during the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. grew its holdings in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

K has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $79.41.

Kellanova Stock Performance

Shares of Kellanova stock traded up $0.12 during trading hours on Tuesday, reaching $82.51. The company's stock had a trading volume of 992,135 shares, compared to its average volume of 2,754,114. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a one year low of $55.96 and a one year high of $83.22. The company's 50 day simple moving average is $82.37 and its 200 day simple moving average is $81.83. The stock has a market cap of $28.62 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share 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 firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business earned $1.01 EPS. The firm's revenue was down 3.7% on a year-over-year basis. As a group, analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 yield of 2.76%. Kellanova's payout ratio is 57.58%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares of the company's stock, valued at approximately $3,956,983,784.20. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 1,374,996 shares of company stock valued at $113,210,296. Company insiders own 1.80% of the company's stock.

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.