Bank of New York Mellon Corp Has $103.05 Million Stock Holdings in Kellanova (NYSE:K)

Bank of New York Mellon Corp lifted its stake in shares of Kellanova (NYSE:K) by 0.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,786,529 shares of the company’s stock after acquiring an additional 687 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kellanova were worth $103,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 period. Charles Schwab Investment Management Inc. increased its stake in shares of Kellanova by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after acquiring an additional 98,294 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings in Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after purchasing an additional 655,686 shares during the period. Norges Bank bought a new stake in Kellanova in the fourth quarter valued at $150,184,000. Finally, Dimensional Fund Advisors LP raised its stake in Kellanova by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after buying an additional 9,726 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on K. Barclays boosted their target price 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. TD Cowen lifted their target price on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. StockNews.com initiated coverage on Kellanova in a research report on Saturday. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $76.00 to $83.50 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 company’s stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Trading Up 0.1 %

Shares of K opened at $80.79 on Wednesday. Kellanova has a twelve month low of $47.63 and a twelve month high of $80.97. The stock has a market cap of $27.62 billion, a PE ratio of 30.26, a P/E/G ratio of 2.22 and a beta of 0.34. The company has a quick ratio of 0.41, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The business’s 50-day moving average price is $64.04 and its 200-day moving average price is $59.86.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. On average, equities analysts forecast that Kellanova will post 3.68 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova 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 21st. The shares were sold at an average price of $57.71, for a total value of $4,489,838.00. Following the completion of the transaction, the insider now owns 51,297,638 shares of the company’s stock, valued at approximately $2,960,386,688.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 778,000 shares of company stock valued at $49,391,330 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.