Rhumbline Advisers Acquires 67,465 Shares of Kellanova (NYSE:K)

Rhumbline Advisers grew its holdings in shares of Kellanova (NYSE:K - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 694,801 shares of the company's stock after purchasing an additional 67,465 shares during the period. Rhumbline Advisers owned approximately 0.20% of Kellanova worth $57,314,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Independent Advisor Alliance grew its stake in shares of Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after buying an additional 1,019 shares in the last quarter. Aviva PLC increased its stake in shares of Kellanova by 2.6% during the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after purchasing an additional 13,531 shares during the last quarter. Alpine Associates Management Inc. lifted its stake in shares of Kellanova by 93.5% in the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock valued at $49,622,000 after purchasing an additional 296,150 shares during the last quarter. Decagon Asset Management LLP bought a new stake in Kellanova in the fourth quarter worth $10,125,000. Finally, Pictet Asset Management Holding SA increased its position in Kellanova by 12.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 164,657 shares of the company's stock worth $13,332,000 after buying an additional 18,045 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Royal Bank of Canada downgraded 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kellanova has an average rating of "Hold" and a consensus target price of $79.75.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $81.79, for a total transaction of $9,371,743.57. Following the completion of the sale, the insider now owns 46,701,616 shares of the company's stock, valued at approximately $3,819,725,172.64. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 1,374,996 shares of company stock valued at $113,174,775. Corporate insiders own 1.80% of the company's stock.

Kellanova Stock Performance

K traded up $0.19 during trading on Thursday, reaching $82.10. 2,609,800 shares of the company's stock were exchanged, compared to its average volume of 2,764,722. The company has a market capitalization of $28.48 billion, a P/E ratio of 21.21, a PEG ratio of 4.21 and a beta of 0.30. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average price of $82.35 and a 200 day moving average price of $81.88. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business 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 posted $1.01 earnings per share. Kellanova's revenue was down 3.7% on a year-over-year basis. As a group, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.78%. Kellanova's payout ratio is presently 57.58%.

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.