Kellanova (NYSE:K) Shares Bought by Vestcor Inc

Vestcor Inc lifted its stake in shares of Kellanova (NYSE:K) by 30.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 224,810 shares of the company’s stock after acquiring an additional 51,848 shares during the period. Vestcor Inc’s holdings in Kellanova were worth $18,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Swiss National Bank raised its holdings in shares of Kellanova by 9.3% during the 4th quarter. Swiss National Bank now owns 886,900 shares of the company’s stock worth $71,812,000 after acquiring an additional 75,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kellanova by 5.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,640 shares of the company’s stock worth $376,000 after acquiring an additional 225 shares during the period. Essential Planning LLC. purchased a new position in shares of Kellanova during the 4th quarter worth $1,050,000. Great Lakes Advisors LLC raised its holdings in shares of Kellanova by 168.2% during the 4th quarter. Great Lakes Advisors LLC now owns 7,284 shares of the company’s stock worth $590,000 after acquiring an additional 4,568 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in Kellanova by 6.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 10,291 shares of the company’s stock valued at $833,000 after buying an additional 580 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.29 on Thursday. Kellanova has a one year low of $52.46 and a one year high of $83.22. The company has a market cap of $28.41 billion, a PE ratio of 21.26, a P/E/G 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. The business has a 50-day simple moving average of $82.00 and a 200-day simple moving average of $81.17.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 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%. On average, equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business 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 dividend payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

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

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $93,673,894 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.