Canada Pension Plan Investment Board Grows Position in Kellanova (NYSE:K)

Canada Pension Plan Investment Board lifted its holdings in shares of Kellanova (NYSE:K) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 879,657 shares of the company’s stock after purchasing an additional 53,091 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Kellanova were worth $71,226,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Kellanova by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock worth $2,626,322,000 after purchasing an additional 281,137 shares during the last quarter. Geode Capital Management LLC lifted its position in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock worth $556,014,000 after buying an additional 158,560 shares during the last quarter. Invesco Ltd. lifted its position in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock worth $337,489,000 after buying an additional 111,396 shares during the last quarter. Norges Bank purchased a new stake in Kellanova in the fourth quarter worth approximately $285,126,000. Finally, Franklin Resources Inc. grew its position in Kellanova by 869.5% during the fourth 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 during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Up 0.1 %

Shares of NYSE:K opened at $82.37 on Friday. The stock’s 50-day moving average is $82.35 and its 200 day moving average is $81.51. The company has a market cap of $28.43 billion, a PE ratio of 21.28, 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 current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Wall Street Analysts Forecast Growth

K has been the subject of a number of research reports. StockNews.com began coverage on shares of Kellanova in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Royal Bank of Canada lowered shares of 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.96.

Insider Activity at Kellanova

In other 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 21st. The stock was sold at an average price of $81.69, for a total value of $9,360,285.27. Following the completion of the transaction, the insider now owns 48,420,361 shares in the company, valued at $3,955,459,290.09. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 1,260,413 shares of company stock worth $103,672,407 over the last 90 days. 1.80% of the stock is owned by company insiders.

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.