Pictet Asset Management Holding SA Has $13.33 Million Stock Holdings in Kellanova (NYSE:K)

Pictet Asset Management Holding SA increased its position in shares of Kellanova (NYSE:K) by 12.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 164,657 shares of the company’s stock after buying an additional 18,045 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Kellanova were worth $13,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Kellanova in the fourth quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova during the fourth quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $82.45 on Wednesday. The firm’s 50-day moving average is $82.27 and its 200-day moving average is $81.37. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG 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 52-week low of $55.01 and a 52-week high of $83.22.

Kellanova (NYSE:K) last issued 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 return on equity of 37.25% and a net margin of 10.53%. Equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on K shares. StockNews.com assumed coverage on Kellanova in a research note on Friday, March 28th. They issued a “hold” rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock valued at $103,473,032 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

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.