Kellanova (NYSE:K) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its position in Kellanova (NYSE:K) by 9.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,545 shares of the company’s stock after purchasing an additional 5,242 shares during the period. DnB Asset Management AS’s holdings in Kellanova were worth $5,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Pictet Asset Management Holding SA raised its position in shares of Kellanova by 12.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 164,657 shares of the company’s stock worth $13,332,000 after purchasing an additional 18,045 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Kellanova by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 117,899 shares of the company’s stock worth $9,546,000 after buying an additional 592 shares in the last quarter. Norges Bank acquired a new position in shares of Kellanova in the fourth quarter worth $285,126,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Kellanova in the fourth quarter valued at $1,744,000. Finally, NEOS Investment Management LLC boosted its stake in shares of Kellanova by 28.5% during the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the company’s stock valued at $905,000 after acquiring an additional 2,483 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 0.0 %

Shares of K opened at $82.43 on Monday. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company’s fifty day moving average is $82.24 and its two-hundred day moving average is $81.34. The firm has a market cap of $28.45 billion, a PE ratio of 21.30, a price-to-earnings-growth 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 issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $82.44, for a total value of $9,446,222.52. Following the completion of the sale, the insider now directly owns 47,389,114 shares in the company, valued at approximately $3,906,758,558.16. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. StockNews.com began coverage on shares of Kellanova in a report on Friday. They issued a “hold” rating on the stock. 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. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $77.96.

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.