Generali Asset Management SPA SGR Buys Shares of 76,982 Kellanova (NYSE:K)

Generali Asset Management SPA SGR bought a new stake in Kellanova (NYSE:K) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,982 shares of the company’s stock, valued at approximately $6,233,000.

Other large investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova during the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock valued at $103,099,492 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Kellanova in a report on Wednesday, March 12th. They set a “hold” rating for the company. Royal Bank of Canada upgraded 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

Shares of K stock opened at $82.36 on Wednesday. The stock has a market cap of $28.43 billion, a P/E ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a fifty day moving average price of $82.09 and a two-hundred day moving average price of $81.22. Kellanova has a one year low of $54.47 and a one year high of $83.22.

Kellanova (NYSE:K) last announced its quarterly 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 net margin of 10.53% and a return on equity of 37.25%. As a group, equities analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

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.