Renaissance Technologies LLC Has $43.41 Million Stake in Kellanova (NYSE:K)

Renaissance Technologies LLC increased its stake in shares of Kellanova (NYSE:K) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 536,128 shares of the company’s stock after purchasing an additional 5,922 shares during the quarter. Renaissance Technologies LLC’s holdings in Kellanova were worth $43,410,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Independent Advisor Alliance raised its stake in shares of Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after purchasing an additional 1,019 shares in the last quarter. Aviva PLC raised its position in Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company’s stock valued at $43,943,000 after acquiring an additional 13,531 shares in the last quarter. Toronto Dominion Bank lifted its stake in Kellanova by 5.1% in the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after acquiring an additional 8,686 shares during the last quarter. Wedmont Private Capital acquired a new stake in Kellanova in the fourth quarter valued at approximately $384,000. Finally, Barclays PLC grew its position in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of NYSE:K opened at $82.19 on Friday. The company has a market cap of $28.37 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.34. The business has a 50 day moving average price of $82.33 and a 200 day moving average price of $81.45. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a twelve month low of $55.01 and a twelve month 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, beating 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%. Research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research report on Saturday, April 5th. They issued a “hold” rating for the company. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total value of $9,360,285.27. Following the completion of the sale, the insider now owns 48,420,361 shares in the company, valued at approximately $3,955,459,290.09. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $103,558,970. 1.80% of the stock is currently owned by company 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.