Trans Canada Capital Inc. Invests $2.43 Million in Kellanova (NYSE:K)

Trans Canada Capital Inc. purchased a new stake in Kellanova (NYSE:K) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $2,429,000. Kellanova comprises about 0.3% of Trans Canada Capital Inc.’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new position in shares of Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova in the fourth quarter valued at about $32,000. Finally, First Horizon Advisors Inc. boosted its holdings in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares of the company’s stock, valued at $3,954,233,554.56. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com started coverage on Kellanova in a report on Friday. They issued a “hold” rating for the company. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

K stock opened at $82.43 on Tuesday. The company has a market cap of $28.46 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average price of $82.25 and a two-hundred day moving average price of $81.36.

Kellanova (NYSE:K) last issued its 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, research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

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.