Grantham Mayo Van Otterloo & Co. LLC Acquires 68,385 Shares of Kellanova (NYSE:K)

Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Kellanova (NYSE:K) by 22.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 372,328 shares of the company’s stock after purchasing an additional 68,385 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Kellanova were worth $30,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in shares of Kellanova in the fourth quarter worth $27,000. BankPlus Trust Department bought a new position in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova in the 4th quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling 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 14th. The shares were sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the transaction, the insider now owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

K has been the subject of several research analyst reports. StockNews.com started coverage on shares of Kellanova in a research report on Saturday. They set a “hold” rating for the company. Royal Bank of Canada cut 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 company. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Performance

Kellanova stock opened at $82.25 on Friday. The business has a 50 day moving average of $82.31 and a 200-day moving average of $81.40. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The company has a market capitalization of $28.39 billion, a P/E ratio of 21.25, a P/E/G ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business 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. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is presently 58.91%.

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.