Vise Technologies Inc. Grows Stock Position in Kellanova (NYSE:K)

Vise Technologies Inc. raised its position in shares of Kellanova (NYSE:K - Free Report) by 100.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,450 shares of the company's stock after purchasing an additional 3,227 shares during the quarter. Vise Technologies Inc.'s holdings in Kellanova were worth $522,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of K. Vanguard Group Inc. boosted its position in shares of Kellanova by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after buying an additional 281,137 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after buying an additional 158,560 shares during the last quarter. Pentwater Capital Management LP grew its stake in shares of Kellanova by 8.5% during the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock valued at $465,982,000 after purchasing an additional 450,700 shares during the period. Invesco Ltd. increased its holdings in Kellanova by 2.7% during the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after buying an additional 111,396 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Kellanova by 15.7% during the fourth quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after buying an additional 530,132 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of Kellanova stock traded up $0.10 on Tuesday, hitting $82.49. 4,202,741 shares of the company traded hands, compared to its average volume of 2,770,359. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The business has a 50-day simple moving average of $82.37 and a 200 day simple moving average of $81.83. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market capitalization 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 announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business's revenue was down 3.7% on a year-over-year basis. Research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's dividend payout ratio is presently 57.58%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company'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 owns 47,732,863 shares of the company's stock, valued at approximately $3,940,347,840.65. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,374,996 shares of company stock valued at $113,210,296 in the last quarter. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.