Elo Mutual Pension Insurance Co Buys 2,942 Shares of Kellanova (NYSE:K)

Elo Mutual Pension Insurance Co grew its stake in shares of Kellanova (NYSE:K) by 13.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,641 shares of the company’s stock after acquiring an additional 2,942 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Kellanova were worth $1,479,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Blair William & Co. IL raised its holdings in Kellanova by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 31,407 shares of the company’s stock worth $1,812,000 after acquiring an additional 1,232 shares during the last quarter. Waterloo Capital L.P. bought a new stake in shares of Kellanova in the 2nd quarter worth $1,651,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Kellanova by 15.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 46,285 shares of the company’s stock worth $2,669,000 after purchasing an additional 6,252 shares during the last quarter. Excalibur Management Corp lifted its holdings in shares of Kellanova by 13.4% during the second quarter. Excalibur Management Corp now owns 4,526 shares of the company’s stock valued at $261,000 after purchasing an additional 535 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. purchased a new stake in shares of Kellanova during the second quarter valued at $509,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on K. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and upped their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Stifel Nicolaus increased their price objective on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Finally, Barclays lifted their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $74.32.

Kellanova Price Performance

NYSE K opened at $80.81 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.97. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.57 and a beta of 0.39. The company’s 50 day moving average is $72.38 and its two-hundred day moving average is $62.93.

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

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 2.82%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is presently 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the transaction, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the sale, the insider now directly owns 51,142,038 shares in the company, valued at $2,871,114,013.32. The disclosure for this sale can be found here. Insiders sold 929,366 shares of company stock valued at $65,106,291 in the last 90 days. Insiders own 1.80% of the company’s stock.

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.