NEOS Investment Management LLC Grows Holdings in Kellanova (NYSE:K)

NEOS Investment Management LLC boosted its holdings in shares of Kellanova (NYSE:K) by 28.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,183 shares of the company’s stock after acquiring an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in Kellanova were worth $905,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. UniSuper Management Pty Ltd increased its holdings in shares of Kellanova by 23.0% during the fourth quarter. UniSuper Management Pty Ltd now owns 31,250 shares of the company’s stock valued at $2,530,000 after acquiring an additional 5,852 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased 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 valued at $35,260,000 after purchasing an additional 14,136 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Kellanova in the fourth quarter worth about $60,000. Vanguard Group Inc. lifted its stake in shares of Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock worth $2,626,322,000 after buying an additional 281,137 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Kellanova by 0.8% during the fourth quarter. LPL Financial LLC now owns 106,325 shares of the company’s stock valued at $8,609,000 after buying an additional 842 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $82.44, for a total value of $9,446,222.52. Following the completion of the transaction, the insider now owns 47,389,114 shares of the company’s stock, valued at approximately $3,906,758,558.16. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on K. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a report on Friday. They set a “hold” rating on the stock. Fourteen 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Trading Down 0.0 %

Shares of Kellanova stock opened at $82.43 on Monday. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The company’s fifty day simple moving average is $82.24 and its 200-day simple moving average is $81.34. 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 stock has a market capitalization of $28.45 billion, a PE ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released its earnings results 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 return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts anticipate 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 $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is 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.