Fisher Asset Management LLC Acquires 257 Shares of Kellanova (NYSE:K)

Fisher Asset Management LLC lifted its holdings in Kellanova (NYSE:K) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,503 shares of the company’s stock after buying an additional 257 shares during the period. Fisher Asset Management LLC’s holdings in Kellanova were worth $3,550,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of Kellanova by 29.4% in the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after buying an additional 1,132,485 shares during the period. Van ECK Associates Corp boosted its stake in shares of Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after purchasing an additional 1,051,922 shares during the period. Anchor Capital Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth about $38,939,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Kellanova by 738.6% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock worth $23,522,000 after buying an additional 370,607 shares during the period. Finally, Deutsche Bank AG boosted its position in Kellanova by 27.4% in the 3rd quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock valued at $95,670,000 after buying an additional 345,830 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of K stock opened at $61.64 on Wednesday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a market capitalization of $21.07 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.32 and a beta of 0.39. The stock’s 50-day simple moving average is $56.42 and its 200-day simple moving average is $54.80.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 EPS. As a group, equities analysts forecast that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the transaction, the insider now directly owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the transaction, the insider now directly owns 52,698,038 shares of the company’s stock, valued at approximately $2,825,668,797.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,021,200 shares of company stock worth $57,219,110 over the last quarter. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on K shares. Barclays boosted their price target on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday. DA Davidson initiated coverage on Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Cowen boosted their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus increased their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.46.

Kellanova 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.