Raiffeisen Bank International AG Invests $11.16 Million in Kellanova (NYSE:K)

Raiffeisen Bank International AG acquired a new stake in shares of Kellanova (NYSE:K) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 138,060 shares of the company’s stock, valued at approximately $11,158,000.

A number of other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after purchasing an additional 130 shares during the period. Quent Capital LLC grew its holdings in Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after purchasing an additional 140 shares during the period. OneAscent Financial Services LLC grew its holdings in Kellanova by 4.7% during the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock valued at $268,000 after purchasing an additional 149 shares during the period. SPC Financial Inc. grew its holdings in Kellanova by 5.7% during the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after purchasing an additional 160 shares during the period. Finally, CENTRAL TRUST Co grew its holdings in Kellanova by 0.7% during the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock valued at $1,820,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $82.11 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The firm’s 50 day moving average price is $82.37 and its two-hundred day moving average price is $81.74. The firm has a market cap of $28.49 billion, a P/E ratio of 21.22, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. On average, analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.78%. Kellanova’s dividend payout ratio is presently 57.58%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on K shares. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.41.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the sale, the insider now owns 47,732,863 shares of the company’s stock, valued at $3,940,347,840.65. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,786,990 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

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.