Kellanova (NYSE:K) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in shares of Kellanova (NYSE:K) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,657 shares of the company’s stock after purchasing an additional 18,045 shares during the period. Pictet Asset Management Holding SA’s holdings in Kellanova were worth $13,332,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Down 0.1 %

Shares of NYSE:K opened at $82.45 on Wednesday. The company has a 50 day moving average of $82.27 and a 200-day moving average of $81.37. 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 firm has a market cap of $28.46 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. 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 payout ratio is 58.91%.

Analyst Ratings Changes

A number of equities analysts have weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a report on Friday, March 28th. They issued a “hold” rating on the stock. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the transaction, the insider now directly owns 48,534,944 shares of the company’s stock, valued at approximately $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 1,260,413 shares of company stock worth $103,473,032. Corporate insiders own 1.80% of the company’s stock.

Kellanova Profile

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.