Kellanova (NYSE:K) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc lifted its stake in Kellanova (NYSE:K) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,391,196 shares of the company’s stock after purchasing an additional 40,406 shares during the period. TD Asset Management Inc owned approximately 0.41% of Kellanova worth $80,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in K. Vanguard Group Inc. increased its holdings 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 acquiring an additional 1,130,582 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings 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 worth $273,504,000 after buying an additional 655,686 shares in the last quarter. Norges Bank purchased a new stake in shares of Kellanova during the fourth quarter worth about $150,184,000. Dimensional Fund Advisors LP grew its holdings in shares of Kellanova by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after buying an additional 9,726 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Kellanova by 117.1% during the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after buying an additional 689,395 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 855,800 shares of company stock worth $55,663,566. 1.80% of the stock is currently owned by insiders.

Kellanova Price Performance

K opened at $80.12 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a 1-year low of $47.63 and a 1-year high of $80.97. The company has a 50-day moving average of $67.63 and a 200-day moving average of $61.23. The company has a market capitalization of $27.39 billion, a P/E ratio of 30.01, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Equities analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova’s payout ratio is presently 85.39%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on K shares. Piper Sandler lifted their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Fourteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.32.

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.