Sei Investments Co. Acquires 4,197 Shares of Kellanova (NYSE:K)

Sei Investments Co. raised its position in Kellanova (NYSE:K) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,392 shares of the company’s stock after acquiring an additional 4,197 shares during the quarter. Sei Investments Co.’s holdings in Kellanova were worth $4,810,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in K. Stifel Financial Corp lifted its stake in Kellanova by 101.6% in the fourth quarter. Stifel Financial Corp now owns 131,173 shares of the company’s stock valued at $7,334,000 after acquiring an additional 66,103 shares during the last quarter. KBC Group NV lifted its stake in Kellanova by 92.4% in the fourth quarter. KBC Group NV now owns 55,818 shares of the company’s stock valued at $3,121,000 after acquiring an additional 26,809 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Kellanova by 14.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,229 shares of the company’s stock worth $181,000 after buying an additional 407 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of Kellanova by 0.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 75,932 shares of the company’s stock worth $4,245,000 after buying an additional 540 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Kellanova by 208.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,855 shares of the company’s stock worth $1,725,000 after buying an additional 20,840 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on K shares. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. The Goldman Sachs Group started coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. Barclays lifted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, BNP Paribas upgraded shares of 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. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.32.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the sale, the insider now directly owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the sale, the insider now directly owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 1,080,732 shares of company stock valued at $79,115,595. 1.80% of the stock is owned by insiders.

Kellanova Price Performance

K stock opened at $80.65 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a 12 month low of $47.63 and a 12 month high of $81.00. The firm has a market cap of $27.57 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.59 and a beta of 0.39. The company’s 50-day moving average price is $75.61 and its two-hundred day moving average price is $64.38.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $1.25 EPS. On average, 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. Investors of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. 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 dividend yield of 2.83%. Kellanova’s payout ratio is 85.39%.

Kellanova Company 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.