8,357 Shares in Kellanova (NYSE:K) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in Kellanova (NYSE:K) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,357 shares of the company’s stock, valued at approximately $482,000.

Several other institutional investors have also recently bought and sold shares of K. Vanguard Group Inc. increased its holdings in shares of Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 277,171 shares during the period. Yacktman Asset Management LP increased its holdings in shares of Kellanova by 0.5% during the 2nd 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. increased its holdings in shares of Kellanova by 766.5% during the 2nd 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 period. Finally, Maverick Capital Ltd. bought a new position in shares of Kellanova during the 2nd quarter worth about $88,065,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K stock opened at $81.06 on Thursday. Kellanova has a 52-week low of $49.28 and a 52-week high of $81.21. The stock has a market cap of $27.71 billion, a PE ratio of 30.36, a PEG ratio of 2.59 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. The firm’s 50 day moving average price is $79.89 and its two-hundred day moving average price is $66.31.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $80.63, for a total value of $9,238,827.29. Following the sale, the insider now directly owns 49,909,940 shares in the company, valued at approximately $4,024,238,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the sale, the insider now directly owns 50,908,638 shares in the company, valued at $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the sale, the insider now owns 49,909,940 shares in the company, valued at approximately $4,024,238,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,154,298 shares of company stock worth $88,847,101. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of a number of analyst reports. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a research note on Monday, August 5th. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and upped their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. StockNews.com initiated coverage on shares of Kellanova in a research note on Friday, October 11th. They issued a “hold” rating on the stock. Wells Fargo & Company upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.32.

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.