Swedbank AB Buys 46,450 Shares of Kellanova (NYSE:K)

Swedbank AB grew its holdings in Kellanova (NYSE:K) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,521 shares of the company’s stock after purchasing an additional 46,450 shares during the period. Swedbank AB’s holdings in Kellanova were worth $22,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of K. D. E. Shaw & Co. Inc. grew its stake in Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in Kellanova during the 2nd quarter valued at $88,065,000. Vanguard Group Inc. boosted its position in Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after buying an additional 1,130,582 shares during the period. Point72 Asset Management L.P. bought a new position in Kellanova in the 2nd quarter worth $63,585,000. Finally, Boston Partners raised its holdings in Kellanova by 117.1% in the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after purchasing an additional 689,395 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $80.63, for a total value of $9,238,827.29. Following the sale, the insider now directly owns 49,909,940 shares in the company, valued at approximately $4,024,238,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the transaction, the insider now directly owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,154,298 shares of company stock valued at $88,847,101 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on K shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Evercore ISI raised shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.32.

Kellanova Stock Performance

Shares of Kellanova stock opened at $81.06 on Thursday. The firm has a market capitalization of $27.71 billion, a P/E ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average price of $79.89 and a 200 day moving average price of $66.31. Kellanova has a 52 week low of $49.28 and a 52 week high of $81.21.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm posted $1.25 EPS. Kellanova’s revenue for the quarter was down 4.7% compared to the same quarter last year. Sell-side analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

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.