UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Kellanova (NYSE:K)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Kellanova (NYSE:K - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,661,225 shares of the company's stock after purchasing an additional 86,293 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.77% of Kellanova worth $215,479,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Kellanova during the fourth quarter worth about $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova during the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova in the 4th quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. raised 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 acquiring an additional 173 shares during the period. Institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on K shares. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $79.41.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the transaction, the insider now directly owns 47,732,863 shares in the company, valued at $3,940,347,840.65. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 1,374,996 shares of company stock valued at $113,210,296. Corporate insiders own 1.80% of the company's stock.

Kellanova Price Performance

K stock traded up $0.11 during mid-day trading on Tuesday, hitting $82.50. 2,315,141 shares of the stock were exchanged, compared to its average volume of 2,736,813. The business has a fifty day moving average price of $82.37 and a 200 day moving average price of $81.83. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last released its earnings results 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). 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 37.25% and a net margin of 10.53%. The business's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. On average, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio (DPR) is 57.58%.

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.