Kellanova (NYSE:K) Shares Sold by Bokf Na

Bokf Na trimmed its stake in shares of Kellanova (NYSE:K) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 13,742 shares of the company’s stock after selling 666 shares during the period. Bokf Na’s holdings in Kellanova were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in K. Norges Bank acquired a new position in Kellanova during the 4th quarter valued at about $150,184,000. Vanguard Group Inc. grew its holdings in Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after buying an additional 1,130,582 shares in the last quarter. Boston Partners increased its position in Kellanova by 117.1% in the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after acquiring an additional 689,395 shares during the period. Beutel Goodman & Co Ltd. raised its stake in Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after acquiring an additional 655,686 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in Kellanova during the 4th quarter worth $35,372,000. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. StockNews.com assumed coverage on Kellanova in a research report on Monday, September 9th. They issued a “hold” rating for 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 research report on Friday, August 2nd. Finally, Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $76.00 to $83.50 in a 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.32.

Insider Transactions 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 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 owns 51,219,838 shares of the company’s stock, valued at approximately $2,952,311,462.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now owns 51,219,838 shares of the company’s stock, valued at $2,952,311,462.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 892,583 shares of company stock worth $60,355,010. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Shares of NYSE K opened at $80.68 on Monday. The company has a market capitalization of $27.58 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a one year low of $47.63 and a one year high of $80.97. The business’s 50-day moving average price is $69.97 and its two-hundred day moving average price is $62.14.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share 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 firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is currently 85.39%.

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.