Kellanova (NYSE:K) Shares Acquired by SPC Financial Inc.

SPC Financial Inc. lifted its holdings in shares of Kellanova (NYSE:K) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,976 shares of the company’s stock after purchasing an additional 160 shares during the quarter. SPC Financial Inc.’s holdings in Kellanova were worth $241,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in K. Forum Financial Management LP acquired a new stake in shares of Kellanova during the third quarter worth about $263,000. National Pension Service lifted its position in shares of Kellanova by 0.9% during the third quarter. National Pension Service now owns 522,848 shares of the company’s stock worth $42,199,000 after purchasing an additional 4,550 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Kellanova by 3.5% in the third quarter. Asset Management One Co. Ltd. now owns 224,781 shares of the company’s stock valued at $18,142,000 after acquiring an additional 7,552 shares in the last quarter. Impax Asset Management Group plc acquired a new stake in Kellanova in the third quarter valued at approximately $4,991,000. Finally, M&G PLC raised its holdings in Kellanova by 20.7% in the third quarter. M&G PLC now owns 62,841 shares of the company’s stock valued at $5,090,000 after acquiring an additional 10,788 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.0 %

K stock opened at $82.37 on Thursday. 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 has a twelve month low of $52.46 and a twelve month high of $83.22. The company’s 50 day moving average is $81.87 and its two-hundred day moving average is $81.10. The stock has a market cap of $28.43 billion, a P/E ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings data 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 net margin of 10.53% and a return on equity of 37.25%. Research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend 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 (DPR) is presently 58.91%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a report on Tuesday. They issued a “hold” rating on the stock. Royal Bank of Canada raised shares of 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. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the transaction, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 1,145,830 shares of company stock worth $93,461,916. Insiders own 1.80% of the company’s stock.

Kellanova Company 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.