Caisse Des Depots ET Consignations Takes Position in Kellanova (NYSE:K)

Caisse Des Depots ET Consignations acquired a new position in Kellanova (NYSE:K) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,542 shares of the company’s stock, valued at approximately $1,744,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in K. NEOS Investment Management LLC boosted its position in Kellanova by 28.5% in the 4th quarter. NEOS Investment Management LLC now owns 11,183 shares of the company’s stock valued at $905,000 after buying an additional 2,483 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Kellanova by 23.0% in the fourth quarter. UniSuper Management Pty Ltd now owns 31,250 shares of the company’s stock valued at $2,530,000 after purchasing an additional 5,852 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Kellanova by 3.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 434,182 shares of the company’s stock worth $35,260,000 after purchasing an additional 14,136 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in Kellanova during the 4th quarter worth about $60,000. Finally, Vanguard Group Inc. raised its position in Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock valued at $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE K opened at $82.47 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm’s 50-day moving average price is $82.22 and its two-hundred day moving average price is $81.31. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The stock has a market capitalization of $28.47 billion, a P/E ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on K shares. StockNews.com began coverage on Kellanova in a research note on Friday. They set a “hold” rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the sale, the insider now directly owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,260,413 shares of company stock worth $103,290,845. 1.80% of the stock is owned by corporate insiders.

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.