Cibc World Markets Corp Buys 493,976 Shares of Kellanova (NYSE:K)

Cibc World Markets Corp lifted its stake in Kellanova (NYSE:K) by 538.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 585,691 shares of the company’s stock after acquiring an additional 493,976 shares during the quarter. Cibc World Markets Corp owned 0.17% of Kellanova worth $47,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in K. Assetmark Inc. grew its stake in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the period. CIBC Asset Management Inc grew its position in Kellanova by 7.0% during the third quarter. CIBC Asset Management Inc now owns 47,901 shares of the company’s stock valued at $3,866,000 after buying an additional 3,149 shares during the period. Empirical Finance LLC increased its holdings in Kellanova by 2.0% during the third quarter. Empirical Finance LLC now owns 8,891 shares of the company’s stock valued at $718,000 after buying an additional 175 shares during the last quarter. Mizuho Securities USA LLC raised its position in Kellanova by 511.9% in the third quarter. Mizuho Securities USA LLC now owns 124,188 shares of the company’s stock worth $10,023,000 after acquiring an additional 103,892 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Kellanova by 7.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company’s stock valued at $1,750,000 after acquiring an additional 1,432 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Performance

NYSE:K opened at $82.22 on Monday. The stock’s 50 day simple moving average is $82.05 and its two-hundred day simple moving average is $81.19. Kellanova has a 1 year low of $52.53 and a 1 year high of $83.22. The company has a market cap of $28.38 billion, a price-to-earnings ratio of 21.24, a PEG 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.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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 anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on K. StockNews.com started coverage on 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 on the stock in a research note on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,099,492 in the last ninety days. Insiders own 1.80% of the company’s stock.

Kellanova Company 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.