AMF Tjanstepension AB Makes New Investment in Kellanova (NYSE:K)

AMF Tjanstepension AB bought a new stake in shares of Kellanova (NYSE:K) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 279,532 shares of the company’s stock, valued at approximately $16,038,000. AMF Tjanstepension AB owned 0.08% of Kellanova as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its position in Kellanova by 9.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,417 shares of the company’s stock valued at $203,000 after buying an additional 290 shares during the period. Mutual Advisors LLC purchased a new stake in Kellanova in the third quarter worth about $599,000. Synovus Financial Corp raised its stake in shares of Kellanova by 3.3% in the third quarter. Synovus Financial Corp now owns 10,334 shares of the company’s stock worth $615,000 after buying an additional 329 shares during the period. Bank of Nova Scotia lifted its position in shares of Kellanova by 525.6% during the 3rd quarter. Bank of Nova Scotia now owns 178,287 shares of the company’s stock valued at $9,956,000 after buying an additional 149,789 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Kellanova during the 3rd quarter valued at approximately $1,126,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now directly owns 51,997,838 shares of the company’s stock, valued at approximately $2,878,080,333.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nicolas Amaya sold 9,800 shares of the business’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 $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold a total of 865,600 shares of company stock worth $50,941,428 in the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

Shares of K stock opened at $57.68 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $47.63 and a 12-month high of $68.69. The business’s 50 day moving average is $59.71 and its two-hundred day moving average is $56.83. The company has a market capitalization of $19.72 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.05 and a beta of 0.35.

Kellanova (NYSE:K) last announced its quarterly 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 net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business earned $1.10 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts expect that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors 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 yield of 3.88%. Kellanova’s payout ratio is 83.90%.

Wall Street Analysts Forecast Growth

K has been the topic of several research analyst reports. Barclays boosted their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. TD Cowen upped their price target on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, DA Davidson upped their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.83.

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.