Invesco Ltd. Acquires 111,396 Shares of Kellanova (NYSE:K)

Invesco Ltd. grew its position in shares of Kellanova (NYSE:K) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 4,168,070 shares of the company’s stock after acquiring an additional 111,396 shares during the period. Invesco Ltd.’s holdings in Kellanova were worth $337,489,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of K. Norges Bank acquired a new stake in shares of Kellanova in the 4th quarter valued at approximately $285,126,000. Franklin Resources Inc. boosted its holdings in shares of Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after buying an additional 2,313,047 shares during the last quarter. Barclays PLC boosted its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Cibc World Markets Corp boosted its holdings in shares of Kellanova by 538.6% in the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after buying an additional 493,976 shares during the last quarter. Finally, Syquant Capital Sas acquired a new stake in shares of Kellanova in the 4th quarter valued at approximately $29,595,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now owns 48,534,944 shares in the company, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,558,970. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.7 %

K stock opened at $82.25 on Thursday. 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 stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 4.21 and a beta of 0.34. The business’s fifty day moving average price is $82.32 and its two-hundred day moving average price is $81.44. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last posted 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 return on equity of 37.25% and a net margin of 10.53%. On average, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com began coverage on Kellanova in a report on Saturday, April 5th. They issued a “hold” rating for the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus price target 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.