BankPlus Trust Department Makes New $28,000 Investment in Kellanova (NYSE:K)

BankPlus Trust Department purchased a new stake in Kellanova (NYSE:K) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 351 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares during the period. Barclays PLC lifted its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Kellanova by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after purchasing an additional 35,268 shares during the period. Finally, Ilex Capital Partners UK LLP grew its position in shares of Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after purchasing an additional 632,510 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total value of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 1,145,830 shares of company stock worth $93,291,187. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research note on Tuesday, February 18th. StockNews.com initiated coverage on Kellanova in a report on Monday. They issued a “hold” rating on the stock. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.96.

Kellanova Price Performance

Shares of Kellanova stock opened at $82.73 on Wednesday. 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 has a 52-week low of $52.46 and a 52-week high of $82.85. The company has a fifty day moving average of $81.63 and a 200-day moving average of $80.89. The stock has a market capitalization of $28.52 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last posted its quarterly earnings results 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%. Equities research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

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.