Vanguard Group Inc. increased its position in Kellanova (NYSE:K – Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,150,331 shares of the company’s stock after buying an additional 1,130,582 shares during the quarter. Vanguard Group Inc. owned 9.41% of Kellanova worth $1,797,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of K. Norges Bank bought a new stake in Kellanova in the fourth quarter valued at approximately $150,184,000. Invesco Ltd. increased its stake in shares of Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after buying an additional 1,132,485 shares during the period. Anchor Capital Advisors LLC purchased a new position in shares of Kellanova during the fourth quarter valued at approximately $38,939,000. Beutel Goodman & Co Ltd. increased its stake in shares of Kellanova by 15.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after buying an additional 655,686 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in shares of Kellanova during the fourth quarter valued at approximately $35,372,000. Institutional investors own 83.87% of the company’s stock.
Kellanova Stock Performance
Shares of NYSE:K traded up $0.68 during midday trading on Wednesday, reaching $58.80. 1,852,376 shares of the company’s stock traded hands, compared to its average volume of 2,098,715. The company has a market cap of $20.10 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 2.06 and a beta of 0.35. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. Kellanova has a one year low of $47.63 and a one year high of $68.69. The stock has a 50 day moving average of $59.44 and a 200 day moving average of $56.64.
Kellanova (NYSE:K – Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. Kellanova’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Kellanova will post 3.62 EPS for the current fiscal year.
Kellanova Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio is 83.90%.
Insider Buying and Selling at Kellanova
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total value of $4,847,718.00. Following the transaction, the insider now owns 51,686,638 shares of the company’s stock, valued at $3,220,594,413.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total value of $4,847,718.00. Following the completion of the transaction, the insider now directly owns 51,686,638 shares in the company, valued at approximately $3,220,594,413.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 865,600 shares of company stock valued at $50,754,708. 1.80% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on K. Barclays boosted their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. DA Davidson boosted their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, TD Cowen boosted their target price on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus target price of $61.85.
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.