Perpetual Ltd Acquires Shares of 2,600 Kellanova (NYSE:K)

Perpetual Ltd acquired a new stake in Kellanova (NYSE:K) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,600 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Kellanova in the 2nd quarter valued at $29,000. BNP Paribas purchased a new position in shares of Kellanova in the 1st quarter valued at $30,000. Newbridge Financial Services Group Inc. grew its position in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and increased their target price for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Barclays raised their price objective 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Wells Fargo & Company raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.32.

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 dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the completion of the transaction, the insider now directly owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the completion of the sale, the insider now directly owns 50,139,106 shares in the company, valued at $4,047,228,636.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated 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 sale, the insider now owns 50,986,438 shares of the company’s stock, valued at approximately $2,940,387,879.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,117,515 shares of company stock worth $83,979,855. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Up 0.0 %

Shares of NYSE K opened at $80.55 on Friday. 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 52 week low of $47.63 and a 52 week high of $81.00. The firm has a 50-day moving average price of $79.23 and a 200 day moving average price of $65.74. The stock has a market capitalization of $27.54 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

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

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is 85.39%.

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.