Charles Schwab Investment Management Inc. Grows Position in Kellanova (NYSE:K)

Charles Schwab Investment Management Inc. grew its stake in shares of Kellanova (NYSE:K) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,680,912 shares of the company’s stock after acquiring an additional 50,303 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Kellanova were worth $136,103,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department purchased a new position in Kellanova during the fourth quarter worth $28,000. First Horizon Advisors Inc. increased its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares in the last quarter. Sherman Asset Management Inc. purchased a new position in Kellanova during the fourth quarter worth $43,000. Finally, Assetmark Inc. increased its position in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of Kellanova stock opened at $82.45 on Friday. The business’s fifty day moving average price is $81.92 and its 200 day moving average price is $81.12. The stock has a market capitalization of $28.46 billion, a P/E ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a twelve month low of $52.46 and a twelve 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.

Kellanova (NYSE:K) last announced 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 return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares in the company, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 1,260,413 shares of company stock valued at $102,920,742 over the last three months. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. StockNews.com initiated coverage on Kellanova in a report on Tuesday. They set a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.96.

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.