DnB Asset Management AS Grows Holdings in Kellanova (NYSE:K)

DnB Asset Management AS increased its stake in Kellanova (NYSE:K) by 9.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 62,545 shares of the company’s stock after acquiring an additional 5,242 shares during the quarter. DnB Asset Management AS’s holdings in Kellanova were worth $5,064,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in K. Pictet Asset Management Holding SA increased its position in shares of Kellanova by 12.3% in 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. lifted its position in shares of 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 purchasing an additional 592 shares during the last quarter. Norges Bank acquired a new position in Kellanova in the fourth quarter worth about $285,126,000. Caisse Des Depots ET Consignations bought a new stake in Kellanova in the fourth quarter valued at about $1,744,000. Finally, NEOS Investment Management LLC raised its stake in 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 buying an additional 2,483 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated 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 $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,473,032. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $82.43 on Monday. The firm has a fifty day moving average of $82.24 and a 200-day moving average of $81.34. The company has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 1 year low of $55.01 and a 1 year high of $83.22.

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

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on K shares. StockNews.com began coverage on Kellanova in a research report on Friday. They issued a “hold” rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.96.

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.