Thrivent Financial for Lutherans Acquires 1,538 Shares of Kellanova (NYSE:K)

Thrivent Financial for Lutherans lifted its holdings in Kellanova (NYSE:K) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,250 shares of the company’s stock after acquiring an additional 1,538 shares during the period. Thrivent Financial for Lutherans’ holdings in Kellanova were worth $1,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in K. Vanguard Group Inc. raised its stake in shares of Kellanova by 3.6% in the fourth 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 during the period. Dimensional Fund Advisors LP lifted its stake in Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares during the last quarter. Yacktman Asset Management LP boosted its position in shares of Kellanova by 0.5% during the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after buying an additional 10,510 shares during the period. TD Asset Management Inc grew its stake in shares of Kellanova by 3.0% during the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after buying an additional 40,406 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Kellanova by 117.1% in 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 during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’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 owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction 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 completion of the transaction, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the sale, the insider now directly owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,080,732 shares of company stock worth $79,115,595 over the last quarter. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on K shares. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Monday, August 5th. Finally, StockNews.com began coverage on Kellanova in a report on Thursday. They issued a “hold” rating for the company. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $74.32.

Kellanova Stock Down 0.0 %

K stock opened at $80.61 on Friday. The stock has a market capitalization of $27.56 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $47.63 and a 52 week high of $81.00. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The firm has a 50 day moving average of $77.02 and a 200 day moving average of $64.87.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating 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 business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is 85.39%.

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.