Siemens Fonds Invest GmbH Boosts Stake in Kellanova (NYSE:K)

Siemens Fonds Invest GmbH increased its stake in Kellanova (NYSE:K) by 257.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 33,532 shares of the company’s stock after acquiring an additional 24,153 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Kellanova were worth $2,715,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

K has been the subject of a number of research reports. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.41.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the transaction, the insider now directly owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 1,260,413 shares of company stock valued at $103,786,990. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.4%

Shares of NYSE K opened at $82.11 on Friday. The firm has a market cap of $28.49 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm’s 50 day moving average price is $82.37 and its 200 day moving average price is $81.74.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm earned $1.01 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. Kellanova’s dividend payout ratio (DPR) is 57.58%.

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.