Hsbc Holdings PLC Acquires 125,600 Shares of Kellanova (NYSE:K)

Hsbc Holdings PLC lifted its position in shares of Kellanova (NYSE:K - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 929,951 shares of the company's stock after purchasing an additional 125,600 shares during the period. Hsbc Holdings PLC owned 0.27% of Kellanova worth $75,248,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its stake in Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after buying an additional 130 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after purchasing an additional 140 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock valued at $690,000 after purchasing an additional 145 shares in the last quarter. OneAscent Financial Services LLC raised its holdings in Kellanova by 4.7% in the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after purchasing an additional 149 shares in the last quarter. Finally, SPC Financial Inc. lifted its position in Kellanova by 5.7% during the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock valued at $241,000 after buying an additional 160 shares during the period. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on K shares. StockNews.com initiated coverage on shares of Kellanova in a research report on Monday, April 21st. They set a "buy" rating for the company. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 1,260,413 shares of company stock worth $103,801,886. 1.80% of the stock is owned by insiders.

Kellanova Stock Performance

NYSE:K traded up $0.01 during mid-day trading on Tuesday, reaching $82.45. The company's stock had a trading volume of 440,399 shares, compared to its average volume of 2,730,139. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market cap of $28.46 billion, a P/E ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.34. The firm's fifty day moving average price is $82.39 and its two-hundred day moving average price is $81.61. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's payout ratio is currently 58.91%.

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.