International Assets Investment Management LLC Grows Stake in Kellanova (NYSE:K)

International Assets Investment Management LLC grew its position in shares of Kellanova (NYSE:K - Free Report) by 133.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,885 shares of the company's stock after purchasing an additional 34,800 shares during the quarter. International Assets Investment Management LLC's holdings in Kellanova were worth $3,404,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Kellanova in the fourth quarter worth approximately $131,663,000. Southeastern Asset Management Inc. TN acquired a new position in shares of Kellanova in the first quarter worth approximately $87,611,000. Invesco Ltd. lifted its stake in Kellanova by 29.4% in the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company's stock valued at $296,971,000 after buying an additional 1,132,485 shares during the period. Van ECK Associates Corp lifted its stake in Kellanova by 27.4% in the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company's stock valued at $291,061,000 after buying an additional 1,051,922 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Kellanova by 2.3% in the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company's stock valued at $1,892,981,000 after buying an additional 646,828 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.68, for a total transaction of $4,254,104.00. Following the transaction, the insider now directly owns 52,775,838 shares in the company, valued at approximately $2,885,782,821.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 933,600 shares of company stock worth $51,308,322. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Performance

Shares of NYSE K traded up $0.47 during trading on Thursday, reaching $56.54. 1,498,113 shares of the stock traded hands, compared to its average volume of 3,142,091. The company has a 50-day moving average of $55.54 and a 200-day moving average of $54.00. The stock has a market capitalization of $19.32 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. The business had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. Analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.96%. Kellanova's dividend payout ratio (DPR) is presently 81.45%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup assumed coverage on Kellanova in a research note on Thursday, February 1st. They issued a "neutral" rating and a $57.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Wells Fargo & Company boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company an "equal weight" rating in a report on Friday, February 9th. Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, January 25th. Finally, Barclays boosted their price objective on Kellanova from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $62.27.

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.