Kellanova (NYSE:K) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Kellanova (NYSE:K) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,616,312 shares of the company’s stock after acquiring an additional 277,171 shares during the period. Dimensional Fund Advisors LP owned approximately 0.77% of Kellanova worth $150,909,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its holdings in Kellanova by 43.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 40,878 shares of the company’s stock valued at $2,286,000 after purchasing an additional 12,352 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Kellanova by 14.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 70,981 shares of the company’s stock valued at $3,969,000 after purchasing an additional 9,036 shares in the last quarter. UBS Group AG grew its holdings in Kellanova by 0.9% during the 4th quarter. UBS Group AG now owns 849,026 shares of the company’s stock valued at $47,469,000 after purchasing an additional 7,984 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Kellanova by 21.1% during the 4th quarter. Wells Fargo & Company MN now owns 470,778 shares of the company’s stock valued at $26,321,000 after purchasing an additional 82,085 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Kellanova by 26.4% during the 4th quarter. Franklin Resources Inc. now owns 427,825 shares of the company’s stock valued at $23,920,000 after purchasing an additional 89,334 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Finally, DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Stock Up 0.2 %

K stock opened at $80.81 on Friday. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.97. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. The firm’s 50-day moving average is $72.38 and its two-hundred day moving average is $62.99. 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 (NYSE:K) last released 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 net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm earned $1.25 EPS. Kellanova’s revenue was down 4.7% on a year-over-year basis. On average, analysts forecast that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

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

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the transaction, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the transaction, the insider now directly owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The disclosure for this sale can be found here. Insiders have sold 929,366 shares of company stock valued at $65,106,291 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova 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.