3,852 Shares in Kellanova (NYSE:K) Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. bought a new stake in shares of Kellanova (NYSE:K) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,852 shares of the company’s stock, valued at approximately $222,000.

Several other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in Kellanova during the second quarter worth $29,000. BNP Paribas acquired a new position in Kellanova during the first quarter worth $30,000. Motco grew its holdings in Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after buying an additional 500 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Kellanova in the 2nd quarter worth $39,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Wells Fargo & Company upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $74.32.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the sale, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the transaction, the insider now directly owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,007,166 shares of company stock worth $69,596,129. Insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock opened at $80.68 on Tuesday. The company has a 50-day moving average of $70.45 and a two-hundred day moving average of $62.32. Kellanova has a 12-month low of $47.63 and a 12-month 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. The stock has a market cap of $27.58 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. On average, research analysts anticipate that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

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

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.