Bessemer Group Inc. Increases Stock Holdings in Kellanova (NYSE:K)

Bessemer Group Inc. raised its holdings in Kellanova (NYSE:K) by 39.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,596 shares of the company’s stock after acquiring an additional 1,854 shares during the quarter. Bessemer Group Inc.’s holdings in Kellanova were worth $533,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Kellanova in the fourth quarter valued at approximately $21,282,000. Greenland Capital Management LP lifted its position in Kellanova by 23.3% during the fourth quarter. Greenland Capital Management LP now owns 34,963 shares of the company’s stock valued at $2,831,000 after purchasing an additional 6,600 shares during the period. Renaissance Technologies LLC grew its position in Kellanova by 1.1% during the 4th quarter. Renaissance Technologies LLC now owns 536,128 shares of the company’s stock worth $43,410,000 after purchasing an additional 5,922 shares during the period. FIL Ltd raised its stake in shares of Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock valued at $337,489,000 after buying an additional 111,396 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $82.31 on Wednesday. The company has a fifty day moving average of $82.35 and a two-hundred day moving average of $81.48. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The stock has a market capitalization of $28.41 billion, a PE ratio of 21.27, a P/E/G ratio of 4.21 and a beta of 0.34. 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 (NYSE:K) last posted its quarterly earnings data 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 return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com initiated coverage on shares of Kellanova in a research note on Sunday. They set a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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 company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $82.41, for a total value of $9,442,785.03. Following the completion of the sale, the insider now directly owns 47,159,948 shares in the company, valued at $3,886,451,314.68. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,260,413 shares of company stock valued at $103,672,407 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.