Thrivent Financial for Lutherans Has $1.75 Million Stock Position in Kellanova (NYSE:K)

Thrivent Financial for Lutherans lifted its stake in shares of Kellanova (NYSE:K) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,682 shares of the company’s stock after buying an additional 1,432 shares during the period. Thrivent Financial for Lutherans’ holdings in Kellanova were worth $1,750,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of K. Dimensional Fund Advisors LP boosted its position in Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after buying an additional 277,171 shares during the period. Yacktman Asset Management LP lifted its holdings 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 worth $123,546,000 after purchasing an additional 10,510 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Kellanova in the second quarter valued at $88,065,000. Finally, TD Asset Management Inc raised its position in Kellanova by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after purchasing an additional 40,406 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

K has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on shares of Kellanova in a research report on Thursday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus increased their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Wells Fargo & Company boosted their price objective on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, Evercore ISI upgraded Kellanova to a “hold” rating in a research report on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Trading Up 0.2 %

Shares of K stock opened at $81.30 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.61 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. The company has a 50-day simple moving average of $80.82 and a two-hundred day simple moving average of $71.26.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Research analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction 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 sale, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is owned by company insiders.

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.