OLD Republic International Corp Raises Holdings in Kellanova (NYSE:K)

OLD Republic International Corp boosted its holdings in Kellanova (NYSE:K - Free Report) by 0.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 541,500 shares of the company's stock after buying an additional 4,000 shares during the period. Kellanova accounts for approximately 1.7% of OLD Republic International Corp's holdings, making the stock its 28th biggest position. OLD Republic International Corp owned about 0.16% of Kellanova worth $44,668,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of K. Norges Bank purchased a new stake in Kellanova in the 4th quarter worth $285,126,000. Franklin Resources Inc. grew 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 valued at $208,826,000 after purchasing an additional 2,313,047 shares in the last quarter. FIL Ltd grew 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 valued at $193,356,000 after purchasing an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL grew 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 valued at $141,356,000 after purchasing an additional 1,006,100 shares in the last quarter. Finally, TIG Advisors LLC grew its position in shares of Kellanova by 76.5% during the fourth quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock valued at $152,084,000 after purchasing an additional 813,901 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Kellanova Trading Down 0.2%

Shares of NYSE:K traded down $0.12 during trading on Wednesday, reaching $79.23. The company's stock had a trading volume of 2,778,659 shares, compared to its average volume of 3,008,105. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The firm's 50 day simple moving average is $81.11 and its two-hundred day simple moving average is $81.73. The stock has a market capitalization of $27.49 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 4.21 and a beta of 0.28.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (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 the consensus estimate of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. On average, research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.88%. Kellanova's payout ratio is currently 57.58%.

Insider Transactions 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 Monday, July 7th. The shares were sold at an average price of $79.68, for a total value of $9,129,973.44. Following the completion of the sale, the insider owned 45,899,535 shares of the company's stock, valued at $3,657,274,948.80. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,374,996 shares of company stock valued at $111,795,196 over the last ninety days. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on K shares. Royal Bank Of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Finally, Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research 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. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $79.75.

About Kellanova

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.