Kellanova (NYSE:K) Shares Bought by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC boosted its holdings in shares of Kellanova (NYSE:K) by 127.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,105 shares of the company’s stock after buying an additional 619 shares during the period. Smartleaf Asset Management LLC’s holdings in Kellanova were worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sherman Asset Management Inc. acquired a new position in Kellanova during the 4th quarter valued at about $43,000. QRG Capital Management Inc. increased its holdings in shares of Kellanova by 34.5% in the fourth quarter. QRG Capital Management Inc. now owns 9,062 shares of the company’s stock valued at $734,000 after purchasing an additional 2,323 shares during the period. Versor Investments LP increased its holdings in shares of Kellanova by 68.9% in the fourth quarter. Versor Investments LP now owns 92,502 shares of the company’s stock valued at $7,490,000 after purchasing an additional 37,749 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Kellanova in the fourth quarter valued at about $9,919,000. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in shares of Kellanova by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 107,200 shares of the company’s stock valued at $8,680,000 after purchasing an additional 1,800 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of NYSE:K opened at $82.45 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The business’s 50 day moving average price is $81.92 and its 200-day moving average price is $81.13. The firm has a market capitalization of $28.46 billion, a PE ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 1 year low of $52.46 and a 1 year high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. As a group, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on K shares. StockNews.com started coverage on Kellanova in a report on Tuesday, March 4th. They issued a “hold” rating on the stock. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.96.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now owns 48,878,693 shares in the company, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $102,920,742. Insiders own 1.80% of the company’s stock.

About Kellanova

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.