Charles Schwab Investment Management Inc. Buys 35,268 Shares of Kellanova (NYSE:K)

Charles Schwab Investment Management Inc. raised its stake in Kellanova (NYSE:K) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,630,609 shares of the company’s stock after buying an additional 35,268 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Kellanova were worth $131,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB lifted its position in shares of Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. SG Americas Securities LLC increased its holdings in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares during the period. Atria Investments Inc purchased a new stake in shares of Kellanova during the 1st quarter worth $1,003,000. Finally, Tidal Investments LLC lifted its position in shares of Kellanova by 36.7% during the first quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock valued at $2,145,000 after buying an additional 10,051 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 1,109,047 shares of company stock valued at $89,483,556. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on K shares. The Goldman Sachs Group started coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday, November 20th. They issued a “hold” rating on the stock. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and upped their price objective for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Finally, Piper Sandler raised their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Stock Down 0.1 %

K stock opened at $81.11 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average of $80.78 and a two-hundred day moving average of $70.85. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. As a group, analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. Kellanova’s dividend payout ratio is presently 78.35%.

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.