Kellanova (NYSE:K) Shares Bought by Blue Trust Inc.

Blue Trust Inc. grew its position in Kellanova (NYSE:K) by 57.2% during the second quarter, Holdings Channel.com reports. The firm owned 467 shares of the company’s stock after acquiring an additional 170 shares during the period. Blue Trust Inc.’s holdings in Kellanova were worth $27,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Intech Investment Management LLC raised its holdings in Kellanova by 10.1% during the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock worth $14,754,000 after purchasing an additional 24,124 shares in the last quarter. Jump Financial LLC acquired a new stake in Kellanova during the 4th quarter worth $8,178,000. International Assets Investment Management LLC lifted its position in Kellanova by 133.4% in the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock valued at $3,404,000 after acquiring an additional 34,800 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after acquiring an additional 10,676 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Kellanova by 498.7% in the second 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 in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Up 0.0 %

Shares of Kellanova stock opened at $80.67 on Friday. The firm has a market cap of $27.58 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.22 and a beta of 0.34. Kellanova has a 52-week low of $47.63 and a 52-week high of $80.74. The company’s 50-day simple moving average is $63.59 and its 200-day simple moving average is $59.64. The company has a quick ratio of 0.41, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, equities research analysts anticipate that Kellanova will post 3.68 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. 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%. The ex-dividend date of this dividend is Tuesday, September 3rd. Kellanova’s payout ratio is presently 85.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on K. Wells Fargo & Company boosted their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. TD Cowen boosted their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Stifel Nicolaus raised their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, StockNews.com began coverage on shares of Kellanova in a research note on Saturday. They set a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.57.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the transaction, the insider now directly owns 50,675,238 shares of the company’s stock, valued at $4,070,235,116.16. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 855,800 shares of company stock valued at $54,071,778 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

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.