Kellanova (NYSE:K) Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its holdings in Kellanova (NYSE:K) by 15.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,285 shares of the company’s stock after acquiring an additional 6,252 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Kellanova were worth $2,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in K. Intech Investment Management LLC lifted its holdings in Kellanova by 10.1% during the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after purchasing an additional 24,124 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after purchasing an additional 10,676 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings in Kellanova by 35.5% during the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after purchasing an additional 20,866 shares in the last quarter. Finally, M&G Plc purchased a new position in Kellanova during the first quarter valued at $9,346,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on K shares. StockNews.com started coverage on shares of Kellanova in a research report on Tuesday. They issued a “hold” rating for the company. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and increased their target price for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.32.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the sale, the insider now owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Friday, June 28th. The shares were sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the transaction, the insider now directly owns 51,219,838 shares in the company, valued at $2,952,311,462.32. The disclosure for this sale can be found here. Insiders sold 929,366 shares of company stock worth $65,106,291 over the last 90 days. 1.80% of the stock is owned by insiders.

Kellanova Trading Up 0.2 %

NYSE K opened at $80.81 on Friday. The firm has a 50 day simple moving average of $72.38 and a 200-day simple moving average of $62.93. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a one year low of $47.63 and a one year high of $80.97. 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.

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

Kellanova Increases Dividend

The company 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. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is currently 85.39%.

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.