Swiss National Bank Has $71.81 Million Stake in Kellanova (NYSE:K)

Swiss National Bank boosted its position in Kellanova (NYSE:K) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 886,900 shares of the company’s stock after purchasing an additional 75,100 shares during the period. Swiss National Bank’s holdings in Kellanova were worth $71,812,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of K. Westchester Capital Management LLC acquired a new position in shares of Kellanova during the third quarter worth $107,795,000. Barclays PLC lifted its holdings in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the period. State Street Corp grew its position in shares of Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP increased its stake in shares of Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after buying an additional 632,510 shares during the period. Finally, Syquant Capital Sas bought a new position in shares of Kellanova during the fourth quarter worth about $29,595,000. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Down 0.1 %

K stock opened at $82.22 on Friday. The stock’s 50 day simple moving average is $82.05 and its 200 day simple moving average is $81.19. The company has a market cap of $28.38 billion, a P/E ratio of 21.24, 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 fifty-two week low of $52.53 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, research analysts expect 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. Stockholders 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 dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on K shares. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research report on Tuesday, February 18th. StockNews.com began coverage on shares of Kellanova in a research note on Wednesday. They set a “hold” rating for the company. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.96.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the transaction, the insider now owns 47,618,280 shares of the company’s stock, valued at $3,917,079,712.80. The trade was 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 this link. Insiders sold a total of 1,260,413 shares of company stock valued at $103,099,492 over the last three months. Corporate insiders own 1.80% of the company’s stock.

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.