Siemens Fonds Invest GmbH Purchases 24,153 Shares of Kellanova (NYSE:K)

Siemens Fonds Invest GmbH grew its holdings in shares of Kellanova (NYSE:K) by 257.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,532 shares of the company’s stock after purchasing an additional 24,153 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Kellanova were worth $2,715,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Independent Advisor Alliance raised its position in shares of Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the period. Aviva PLC raised its holdings in shares of Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company’s stock valued at $43,943,000 after acquiring an additional 13,531 shares in the last quarter. Wedmont Private Capital bought a new stake in Kellanova during the fourth quarter valued at approximately $384,000. Barclays PLC increased its stake in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Finally, Alpine Associates Management Inc. raised its holdings in shares of Kellanova by 93.5% during the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after buying an additional 296,150 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 0.4%

NYSE:K opened at $82.11 on Friday. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a 50 day simple moving average of $82.37 and a two-hundred day simple moving average of $81.74. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.49 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm earned $1.01 EPS. The company’s revenue was down 3.7% on a year-over-year basis. Research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.78%. Kellanova’s dividend payout ratio is currently 57.58%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the sale, the insider now directly owns 47,847,446 shares in the company, valued at $3,956,983,784.20. The trade was a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $103,786,990. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on K. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus target price of $79.41.

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.