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

Bessemer Group Inc. raised its position in shares of Kellanova (NYSE:K) by 39.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,596 shares of the company’s stock after purchasing 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.

Other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new position in shares of Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova during the fourth quarter valued at $32,000. Flagship Wealth Advisors LLC bought a new stake in Kellanova in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. lifted its stake in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Price Performance

K opened at $82.31 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average of $82.35 and a 200 day moving average of $81.48. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The stock has a market cap of $28.41 billion, a P/E ratio of 21.27, a PEG ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last posted its quarterly earnings results 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 net margin of 10.53% and a return on equity of 37.25%. As a group, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

Wall Street Analysts Forecast Growth

K has been the topic of a number of research analyst reports. StockNews.com began coverage on Kellanova in a research report on Sunday. They issued a “hold” rating on the stock. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the completion of the transaction, the insider now directly owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,672,407. Company 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.