Y Intercept Hong Kong Ltd Purchases New Holdings in Kellanova (NYSE:K)

Y Intercept Hong Kong Ltd acquired a new position in Kellanova (NYSE:K) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,273 shares of the company’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also made changes to their positions in K. Toronto Dominion Bank boosted its position in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after acquiring an additional 24,067 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of Kellanova in the fourth quarter worth $384,000. Barclays PLC increased its holdings in shares of Kellanova by 134.7% during 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 in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Kellanova in the 3rd quarter worth about $4,211,000. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the sale, the insider now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,145,830 shares of company stock valued at $93,461,916 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.3 %

Kellanova stock opened at $82.33 on Wednesday. Kellanova has a one year low of $52.46 and a one year high of $83.22. The stock has a fifty day moving average of $81.84 and a 200 day moving average of $81.09. 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 stock has a market cap of $28.42 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, sell-side analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given 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 of this dividend is Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Kellanova Company 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.