OVERSEA CHINESE BANKING Corp Ltd Acquires 9,045 Shares of Kellanova (NYSE:K)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Kellanova (NYSE:K) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 463,653 shares of the company’s stock after acquiring an additional 9,045 shares during the period. Kellanova accounts for approximately 1.1% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 22nd biggest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Kellanova were worth $37,542,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Xponance Inc. raised its holdings in Kellanova by 3.6% in the 4th quarter. Xponance Inc. now owns 38,436 shares of the company’s stock worth $3,112,000 after purchasing an additional 1,347 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in Kellanova in the fourth quarter worth about $6,233,000. Flagship Wealth Advisors LLC bought a new stake in Kellanova during the 4th quarter valued at approximately $32,000. Parallel Advisors LLC grew its holdings in shares of Kellanova by 7.1% during the 4th quarter. Parallel Advisors LLC now owns 5,417 shares of the company’s stock worth $439,000 after acquiring an additional 360 shares during the period. Finally, Cibc World Markets Corp raised its position in shares of Kellanova by 538.6% in the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after acquiring an additional 493,976 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

K has been the topic of several recent research reports. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. StockNews.com initiated coverage on shares of Kellanova in a research report on Wednesday, March 12th. They issued a “hold” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $77.96.

Insider Transactions at Kellanova

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

Kellanova Price Performance

Shares of K opened at $82.36 on Wednesday. Kellanova has a twelve month low of $54.47 and a twelve month high of $83.22. The company has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The firm has a 50 day moving average of $82.09 and a 200 day moving average of $81.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is presently 58.91%.

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.