Franklin Resources Inc. Grows Position in Kellanova (NYSE:K)

Franklin Resources Inc. grew its stake in Kellanova (NYSE:K) by 869.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,579,058 shares of the company’s stock after buying an additional 2,313,047 shares during the quarter. Franklin Resources Inc.’s holdings in Kellanova were worth $208,826,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter worth $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. raised its stake in Kellanova by 64.8% during 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. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $82.45 on Wednesday. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. 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 business has a 50 day simple moving average of $82.27 and a 200-day simple moving average of $81.37. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com began coverage on shares of Kellanova in a report on Friday, March 28th. They set a “hold” rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.96.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now directly owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,260,413 shares of company stock valued at $103,473,032 over the last 90 days. Insiders own 1.80% of the company’s stock.

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.