Kellanova (NYSE:K) Shares Bought by Westchester Capital Management LLC

Westchester Capital Management LLC boosted its position in shares of Kellanova (NYSE:K – Free Report) by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,600,893 shares of the company’s stock after purchasing an additional 265,312 shares during the quarter. Kellanova accounts for about 7.1% of Westchester Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Westchester Capital Management LLC’s holdings in Kellanova were worth $129,624,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock valued at $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Kellanova by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock valued at $556,014,000 after purchasing an additional 158,560 shares during the last quarter. Invesco Ltd. lifted its position in shares of Kellanova by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock worth $337,489,000 after purchasing an additional 111,396 shares in the last quarter. Norges Bank acquired a new position in Kellanova during the fourth quarter worth $285,126,000. Finally, Franklin Resources Inc. lifted its position in Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after buying an additional 2,313,047 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on K. StockNews.com started coverage on Kellanova in a research report on Monday. They set a “buy” rating for the company. 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. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus price target of $77.96.

View Our Latest Research Report on K

Kellanova Trading Down 0.1 %

Shares of Kellanova stock opened at $82.74 on Friday. The firm’s 50 day moving average is $82.39 and its 200 day moving average is $81.57. The firm has a market capitalization of $28.56 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. 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 (NYSE:K – Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.92 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 forecast that Kellanova will post 3.93 earnings per share for the current fiscal 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 paid a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is 58.91%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the completion of the transaction, the insider now owns 48,305,778 shares of the company’s stock, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,260,413 shares of company stock valued at $103,737,719 in the last three months. Insiders own 1.80% of the company’s stock.

About Kellanova

(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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