Tredje AP fonden Sells 1,419 Shares of Kellanova (NYSE:K)

Tredje AP fonden trimmed its position in shares of Kellanova (NYSE:K) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,111 shares of the company’s stock after selling 1,419 shares during the period. Tredje AP fonden’s holdings in Kellanova were worth $5,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. IFG Advisory LLC lifted its position in shares of Kellanova by 1.4% during the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after acquiring an additional 189 shares in the last quarter. Eukles Asset Management boosted its holdings in shares of Kellanova by 0.7% in the second quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock worth $1,521,000 after acquiring an additional 193 shares during the period. Financial Advisors Network Inc. grew its position in shares of Kellanova by 4.2% in the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after purchasing an additional 204 shares in the last quarter. Finally, Czech National Bank raised its stake in shares of Kellanova by 0.5% during the 1st quarter. Czech National Bank now owns 46,405 shares of the company’s stock valued at $2,659,000 after purchasing an additional 213 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $57.71, for a total value of $4,489,838.00. Following the transaction, the insider now directly owns 51,297,638 shares of the company’s stock, valued at approximately $2,960,386,688.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was 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 directly owns 51,297,638 shares of the company’s stock, valued at approximately $2,960,386,688.98. The disclosure for this sale can be found here. Insiders sold 1,007,166 shares of company stock worth $69,596,129 in the last ninety days. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

K has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price target for the company from $80.00 to $83.50 in a research report on Monday, August 26th. StockNews.com assumed coverage on shares of Kellanova in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.32.

Kellanova Stock Performance

Shares of NYSE K opened at $80.65 on Thursday. The stock’s 50-day moving average is $71.43 and its 200 day moving average is $62.68. The stock has a market cap of $27.57 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 2.57 and a beta of 0.39. Kellanova has a 1-year low of $47.63 and a 1-year high of $80.97. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

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. The company had revenue of $3.19 billion during 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 firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. On average, sell-side analysts anticipate that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

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

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.