Raiffeisen Bank International AG purchased a new stake in Kellanova (NYSE:K - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 138,060 shares of the company's stock, valued at approximately $11,158,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Kellanova in the 4th quarter worth $27,000. BankPlus Trust Department acquired a new position in Kellanova in the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the 4th quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova in the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. boosted its stake in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.
Insider Activity at Kellanova
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the transaction, the insider now directly owns 47,847,446 shares of the company's stock, valued at $3,956,983,784.20. This 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 this hyperlink. In the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,786,990. Insiders own 1.80% of the company's stock.
Wall Street Analysts Forecast Growth
K has been the subject of a number of research analyst reports. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $79.41.
View Our Latest Stock Analysis on Kellanova
Kellanova Stock Performance
NYSE:K traded up $0.15 during mid-day trading on Friday, hitting $82.28. The stock had a trading volume of 3,434,394 shares, compared to its average volume of 2,730,043. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 4.21 and a beta of 0.30. The company's 50 day simple moving average is $82.37 and its 200 day simple moving average is $81.76. 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 (NYSE:K - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.01 earnings per share. The company's revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.
Kellanova Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.
Kellanova Profile
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Free Report)
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.
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