Kellanova (NYSE:K) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its stake in shares of Kellanova (NYSE:K) by 173.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,878 shares of the company’s stock after purchasing an additional 11,984 shares during the period. iA Global Asset Management Inc.’s holdings in Kellanova were worth $1,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC raised its position in shares of Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after purchasing an additional 140 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after purchasing an additional 145 shares during the last quarter. SPC Financial Inc. raised its position in shares of Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock worth $241,000 after purchasing an additional 160 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Kellanova by 0.7% during the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock worth $1,820,000 after purchasing an additional 162 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Up 0.1 %

Shares of NYSE K opened at $82.40 on Friday. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The firm has a fifty day moving average of $82.14 and a 200-day moving average of $81.25. The stock has a market capitalization of $28.44 billion, a PE ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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, analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research note on Thursday. They issued a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 1,374,996 shares of company stock valued at $112,530,818 in the last ninety days. Company insiders own 1.80% of the company’s stock.

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.