Impax Asset Management Group plc Acquires 6,458 Shares of Kellanova (NYSE:K)

Impax Asset Management Group plc grew its holdings in shares of Kellanova (NYSE:K) by 10.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 68,300 shares of the company’s stock after purchasing an additional 6,458 shares during the period. Impax Asset Management Group plc’s holdings in Kellanova were worth $5,530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new stake in Kellanova during the 4th quarter worth about $27,000. First Horizon Advisors Inc. raised its holdings in shares of 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 during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Assetmark Inc. raised its holdings in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Kellanova in the 3rd quarter valued at about $55,000. 83.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the transaction, the insider now owns 48,878,693 shares in the company, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock worth $93,291,187 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on K shares. StockNews.com started coverage on shares of Kellanova in a report on Monday. They issued a “hold” rating on the stock. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Up 0.1 %

Shares of K opened at $82.71 on Tuesday. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.75. The firm has a market cap of $28.51 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The firm’s 50-day simple moving average is $81.59 and its 200 day simple moving average is $80.83. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last announced its quarterly 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%. On average, analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s payout ratio is presently 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.