Canada Pension Plan Investment Board Purchases 53,091 Shares of Kellanova (NYSE:K)

Canada Pension Plan Investment Board increased its position in Kellanova (NYSE:K) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 879,657 shares of the company’s stock after purchasing an additional 53,091 shares during the period. Canada Pension Plan Investment Board owned approximately 0.26% of Kellanova worth $71,226,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in shares of Kellanova in the fourth quarter valued at approximately $285,126,000. Franklin Resources Inc. lifted its stake in Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after acquiring an additional 2,313,047 shares in the last quarter. FIL Ltd boosted its holdings in Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock worth $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Barclays PLC grew its stake in shares of Kellanova by 134.7% in the 3rd 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. Finally, Cibc World Markets Corp raised its holdings in shares of Kellanova by 538.6% in the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after purchasing an additional 493,976 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

K has been the subject of a number of recent analyst reports. StockNews.com started coverage on shares of Kellanova in a research report on Sunday, April 13th. They issued a “hold” rating for the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Up 0.1 %

K stock opened at $82.37 on Friday. The stock has a fifty day moving average of $82.35 and a 200-day moving average of $81.51. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 21.28, a PEG 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 issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $82.41, for a total transaction of $9,442,785.03. Following the completion of the transaction, the insider now owns 47,159,948 shares of the company’s stock, valued at approximately $3,886,451,314.68. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,260,413 shares of company stock worth $103,672,407 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.