National Bank of Canada FI Boosts Stock Position in Kellanova (NYSE:K)

by · The Markets Daily

National Bank of Canada FI raised its holdings in Kellanova (NYSE:K – Free Report) by 74.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,776 shares of the company’s stock after buying an additional 116,572 shares during the period. National Bank of Canada FI owned about 0.08% of Kellanova worth $22,168,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of K. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Up 0.1 %

Shares of Kellanova stock opened at $82.52 on Friday. Kellanova has a one year low of $55.01 and a one year high of $83.22. The company has a market cap of $28.49 billion, a P/E ratio of 21.32, 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. The firm has a fifty day moving average of $82.30 and a two-hundred day moving average of $81.38.

Kellanova (NYSE:K – Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 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%. On average, analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is presently 58.91%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com assumed coverage on shares of Kellanova in a report on Friday, March 28th. They issued a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Check Out Our Latest Analysis on Kellanova

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is owned by corporate insiders.

Kellanova Profile

(Free Report)

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.

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