Kellanova (NYSE:K) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Kellanova (NYSE:K) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,150,331 shares of the company’s stock after purchasing an additional 1,130,582 shares during the period. Vanguard Group Inc. owned approximately 9.41% of Kellanova worth $1,797,525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in Kellanova by 10.1% during the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after purchasing an additional 24,124 shares during the last quarter. Jump Financial LLC acquired a new stake in Kellanova during the fourth quarter valued at approximately $8,178,000. International Assets Investment Management LLC lifted its stake in Kellanova by 133.4% during the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock valued at $3,404,000 after purchasing an additional 34,800 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Kellanova during the fourth quarter valued at approximately $889,000. Finally, Comerica Bank acquired a new stake in Kellanova during the third quarter valued at approximately $4,974,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Up 1.2 %

Kellanova stock opened at $58.80 on Wednesday. The firm has a market cap of $20.10 billion, a PE ratio of 22.02, a P/E/G ratio of 2.04 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. The firm’s 50 day moving average price is $59.44 and its two-hundred day moving average price is $56.64. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.69.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts predict that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.56 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.81%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the transaction, the insider now owns 52,231,238 shares in the company, valued at approximately $2,904,579,145.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the sale, the insider now directly owns 52,231,238 shares of the company’s stock, valued at $2,904,579,145.18. The disclosure for this sale can be found here. Insiders have sold a total of 865,600 shares of company stock worth $50,754,708 in the last 90 days. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. TD Cowen boosted their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. DA Davidson boosted their price target on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Barclays boosted their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.85.

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.