Kellanova (NYSE:K) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in Kellanova (NYSE:K) by 38.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,081 shares of the company’s stock after selling 79,724 shares during the quarter. Intech Investment Management LLC’s holdings in Kellanova were worth $7,388,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of K. Vanguard Group Inc. raised its position 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 buying an additional 1,130,582 shares during the last quarter. Norges Bank purchased a new position in shares of Kellanova during the 4th quarter worth $150,184,000. Dimensional Fund Advisors LP boosted its holdings in shares of Kellanova by 11.8% during 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 grew its position in shares of Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after purchasing an additional 10,510 shares during the period. Finally, TD Asset Management Inc increased its stake in Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after purchasing an additional 40,406 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

K opened at $80.81 on Friday. Kellanova has a twelve month low of $47.63 and a twelve month high of $80.97. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The firm 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 has a fifty day simple moving average of $72.38 and a 200 day simple moving average of $62.93.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

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

Insider Activity at Kellanova

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Wells Fargo & Company increased their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus target price of $74.32.

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.