Kellanova (NYSE:K) Shares Purchased by Blair William & Co. IL

Blair William & Co. IL increased its position in shares of Kellanova (NYSE:K) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,407 shares of the company’s stock after buying an additional 1,232 shares during the period. Blair William & Co. IL’s holdings in Kellanova were worth $1,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waterloo Capital L.P. bought a new stake in shares of Kellanova in the 2nd quarter valued at approximately $1,651,000. Vanguard Personalized Indexing Management LLC grew its holdings in Kellanova by 15.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,285 shares of the company’s stock worth $2,669,000 after buying an additional 6,252 shares in the last quarter. Excalibur Management Corp increased its position in Kellanova by 13.4% in the 2nd quarter. Excalibur Management Corp now owns 4,526 shares of the company’s stock valued at $261,000 after acquiring an additional 535 shares during the period. Luts & Greenleigh Group Inc. bought a new stake in Kellanova during the 2nd quarter valued at $509,000. Finally, 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 acquiring an additional 277,171 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on K. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research note on Monday, August 5th. Finally, StockNews.com began coverage on shares of Kellanova in a research note on Tuesday, September 17th. They set a “hold” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and an average price target of $74.32.

Kellanova Price Performance

Shares of K stock opened at $80.62 on Tuesday. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.97. The stock’s fifty day moving average is $72.86 and its 200-day moving average is $63.25. The stock has a market capitalization of $27.56 billion, a PE ratio of 30.19, a PEG ratio of 2.57 and a beta of 0.39. 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 (NYSE:K) last issued its earnings results 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 company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter 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 company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is 85.39%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 9th. The shares were 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 filing with the SEC, which is available through this link. 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 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 directly owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The disclosure for this sale can be found here. Insiders have sold 1,043,949 shares of company stock worth $74,350,847 over the last ninety days. Insiders own 1.80% of the company’s stock.

About Kellanova

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.