OVERSEA CHINESE BANKING Corp Ltd Grows Stake in Kellanova (NYSE:K)

OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Kellanova (NYSE:K) by 2.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 463,653 shares of the company’s stock after acquiring an additional 9,045 shares during the period. Kellanova comprises 1.1% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 22nd biggest position. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.13% of Kellanova worth $37,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Assetmark Inc. increased its position in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Kellanova by 7.0% during the 3rd quarter. CIBC Asset Management Inc now owns 47,901 shares of the company’s stock worth $3,866,000 after acquiring an additional 3,149 shares during the period. Thrivent Financial for Lutherans increased its holdings in Kellanova by 7.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company’s stock worth $1,750,000 after acquiring an additional 1,432 shares during the last quarter. Swiss National Bank raised its stake in Kellanova by 0.3% in the 3rd quarter. Swiss National Bank now owns 811,800 shares of the company’s stock valued at $65,520,000 after acquiring an additional 2,500 shares during the period. Finally, MAI Capital Management lifted its holdings in Kellanova by 2.1% during the third quarter. MAI Capital Management now owns 9,767 shares of the company’s stock valued at $788,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $82.36 on Wednesday. Kellanova has a one year low of $54.47 and a one year high of $83.22. 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 firm has a market capitalization of $28.43 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.31. The company’s fifty day moving average price is $82.09 and its 200-day moving average price is $81.22.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. On average, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,099,492. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

K has been the subject of several recent research reports. 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 research note on Tuesday, February 18th. StockNews.com started coverage on shares of Kellanova in a report on Wednesday, March 12th. They set a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.96.

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.