Kellanova (NYSE:K) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kellanova (NYSE:K - Free Report) by 3.4% in the fourth 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 buying an additional 86,293 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.77% of Kellanova worth $215,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Kellanova in the 4th quarter valued at $285,126,000. Franklin Resources Inc. increased its holdings in Kellanova by 869.5% in the 4th 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 increased its holdings in Kellanova by 182.3% in the 4th 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. Barclays PLC increased its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its position in Kellanova by 136.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock valued at $141,356,000 after buying an additional 1,006,100 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the sale, the insider now owns 47,732,863 shares in the company, valued at $3,940,347,840.65. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,374,996 shares of company stock worth $113,210,296 over the last quarter. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Kellanova Stock Down 0.1%

Shares of K stock traded down $0.11 during trading hours on Wednesday, hitting $82.40. 528,714 shares of the company were exchanged, compared to its average volume of 2,761,464. 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 business's 50-day simple moving average is $82.37 and its two-hundred day simple moving average is $81.83. The stock has a market capitalization of $28.59 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business posted $1.01 EPS. The business's revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 2.77%. Kellanova's dividend payout ratio (DPR) is 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.