Kellanova (NYSE:K) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in shares of Kellanova (NYSE:K) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,062 shares of the company’s stock after buying an additional 2,323 shares during the period. QRG Capital Management Inc.’s holdings in Kellanova were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Versor Investments LP raised its stake in shares of Kellanova by 68.9% during the fourth quarter. Versor Investments LP now owns 92,502 shares of the company’s stock valued at $7,490,000 after purchasing an additional 37,749 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Kellanova during the 4th quarter worth about $9,919,000. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Kellanova by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 107,200 shares of the company’s stock worth $8,680,000 after acquiring an additional 1,800 shares during the period. New York Life Investment Management LLC lifted its stake in shares of Kellanova by 21.0% in the 4th quarter. New York Life Investment Management LLC now owns 126,275 shares of the company’s stock worth $10,224,000 after acquiring an additional 21,947 shares during the period. Finally, Carlson Capital L.P. bought a new position in shares of Kellanova in the fourth quarter valued at approximately $2,834,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the sale, the insider now directly owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 1,145,830 shares of company stock valued at $93,461,916. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $82.33 on Wednesday. Kellanova has a one year low of $52.46 and a one year high of $83.22. The firm has a 50-day moving average of $81.84 and a two-hundred day moving average of $81.09. The firm has a market capitalization of $28.42 billion, a PE ratio of 21.27, a P/E/G ratio of 4.21 and a beta of 0.37. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is 58.91%.

Analyst Ratings Changes

Several brokerages recently commented on K. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research note on Tuesday. They issued a “hold” rating on the stock. Thirteen 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 a consensus rating of “Hold” and an average price target 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.