UniSuper Management Pty Ltd Boosts Holdings in Kellanova (NYSE:K)

UniSuper Management Pty Ltd raised its holdings in Kellanova (NYSE:K) by 23.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,250 shares of the company’s stock after purchasing an additional 5,852 shares during the period. UniSuper Management Pty Ltd’s holdings in Kellanova were worth $2,530,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Independent Advisor Alliance increased its position in 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. Toronto Dominion Bank boosted its stake in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Kellanova during the fourth quarter worth about $384,000. Barclays PLC raised its position in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Finally, Alpine Associates Management Inc. lifted its stake in shares of Kellanova by 93.5% during the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after buying an additional 296,150 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 that occurred on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the transaction, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 1,374,996 shares of company stock worth $112,737,068. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $82.43 on Friday. 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 12 month low of $55.01 and a 12 month high of $83.22. The company has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The stock’s 50-day moving average is $82.24 and its 200-day moving average is $81.33.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given 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 dividend payout ratio (DPR) is 58.91%.

Analyst Upgrades and Downgrades

K has been the subject of several analyst reports. StockNews.com began coverage on Kellanova in a report on Friday. 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 research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.96.

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.