Livforsakringsbolaget Skandia Omsesidigt Buys 1,200 Shares of Kellanova (NYSE:K)

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Kellanova (NYSE:K) by 1,764.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,268 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Kellanova were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of K. Blue Trust Inc. grew its position in shares of Kellanova by 57.2% during 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. Family Firm Inc. purchased a new stake in Kellanova during the 2nd quarter valued at approximately $29,000. BNP Paribas bought a new stake in shares of Kellanova during the first quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Kellanova during the second quarter worth $39,000. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target for the company in a research note on Monday, August 5th. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Barclays boosted their price target 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. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.32.

Kellanova Stock Up 0.4 %

Shares of NYSE:K opened at $80.93 on Wednesday. The firm has a market capitalization of $27.67 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The business has a 50 day simple moving average of $79.74 and a two-hundred day simple moving average of $66.15. Kellanova has a 1 year low of $49.28 and a 1 year high of $81.09. 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 (NYSE:K) last posted 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 return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Kellanova’s revenue was down 4.7% compared to the same quarter last year. On average, equities analysts predict that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The business also recently disclosed 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. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 that occurred on Monday, July 22nd. The stock was sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the completion of the sale, the insider now directly owns 50,986,438 shares of the company’s stock, valued at $2,940,387,879.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,154,298 shares of company stock valued at $88,847,101 in the last three months. Company insiders own 1.80% of the company’s stock.

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.