BankPlus Trust Department Acquires Shares of 351 Kellanova (NYSE:K)

BankPlus Trust Department bought a new position in Kellanova (NYSE:K) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 351 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Kellanova by 7,849.5% in the third quarter. International Assets Investment Management LLC now owns 86,729 shares of the company’s stock worth $7,000,000 after purchasing an additional 85,638 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Kellanova by 2.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 16,934 shares of the company’s stock worth $1,367,000 after acquiring an additional 457 shares in the last quarter. Ballentine Partners LLC purchased a new position in Kellanova during the 3rd quarter valued at about $292,000. Louisiana State Employees Retirement System boosted its stake in Kellanova by 1.3% during the third quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the company’s stock worth $1,219,000 after acquiring an additional 200 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Kellanova by 28.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,118 shares of the company’s stock worth $1,867,000 after purchasing an additional 5,064 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the subject of several recent research reports. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a report on Tuesday, February 18th. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Finally, StockNews.com initiated coverage on Kellanova in a report on Monday. They set a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Up 0.0 %

K opened at $82.73 on Wednesday. The stock has a market capitalization of $28.52 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 4.21 and a beta of 0.37. The firm has a 50 day moving average price of $81.63 and a 200-day moving average price of $80.89. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.85. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. Equities research analysts forecast 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 will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued 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 is 58.91%.

Kellanova 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.