Impax Asset Management Group plc Acquires 6,458 Shares of Kellanova (NYSE:K)

Impax Asset Management Group plc grew its position in Kellanova (NYSE:K) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,300 shares of the company’s stock after acquiring an additional 6,458 shares during the period. Impax Asset Management Group plc’s holdings in Kellanova were worth $5,530,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter worth approximately $27,000. First Horizon Advisors Inc. grew its holdings in 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 during the period. Capital Advisors Ltd. LLC grew its holdings in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares during the period. Assetmark Inc. grew its holdings in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Kellanova during the 3rd quarter worth $55,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K stock opened at $82.71 on Tuesday. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.75. The firm has a market capitalization of $28.51 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. 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 firm has a fifty day moving average of $81.59 and a 200-day moving average of $80.83.

Kellanova (NYSE:K) last announced 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%. On average, equities research analysts forecast 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 will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s payout ratio is presently 58.91%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,145,830 shares of company stock valued at $93,291,187. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on K. StockNews.com began coverage on shares of Kellanova in a report on Monday. They set a “hold” rating for the company. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Finally, Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.