Cibc World Markets Corp Increases Holdings in Kellanova (NYSE:K)

Cibc World Markets Corp lifted its position in Kellanova (NYSE:K) by 538.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 585,691 shares of the company’s stock after purchasing an additional 493,976 shares during the period. Cibc World Markets Corp’s holdings in Kellanova were worth $47,423,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of K. Stonebridge Financial Group LLC purchased a new stake in Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova during the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova during the 4th quarter worth $32,000. First Horizon Advisors Inc. lifted its stake in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. Finally, Twin Tree Management LP purchased a new stake in Kellanova during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE K opened at $82.22 on Monday. The company has a market capitalization of $28.38 billion, a PE 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. The company’s fifty day moving average price is $82.05 and its 200 day moving average price is $81.19. Kellanova has a 1 year low of $52.53 and a 1 year high of $83.22.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. On average, research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada upgraded 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. StockNews.com assumed coverage on shares of Kellanova in a research report on Wednesday, March 12th. They issued a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $77.96.

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.