Kellanova (NYSE:K) Shares Acquired by Swedbank AB

Swedbank AB boosted its position in Kellanova (NYSE:K) by 20.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,521 shares of the company’s stock after buying an additional 46,450 shares during the quarter. Swedbank AB owned approximately 0.08% of Kellanova worth $22,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Advisors Network LLC lifted its position in Kellanova by 66.0% in the fourth quarter. Integrated Advisors Network LLC now owns 7,539 shares of the company’s stock worth $422,000 after purchasing an additional 2,997 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Kellanova by 0.9% in the fourth quarter. Fisher Asset Management LLC now owns 63,795 shares of the company’s stock valued at $3,567,000 after buying an additional 549 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Kellanova in the fourth quarter valued at about $225,000. Vanguard Group Inc. lifted its stake in shares of Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after buying an additional 1,130,582 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Kellanova by 14.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 70,981 shares of the company’s stock valued at $3,969,000 after buying an additional 9,036 shares during the period. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

K has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. DA Davidson lowered 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 report on Monday, August 26th. Stifel Nicolaus raised their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus price target of $74.32.

Kellanova Stock Up 0.2 %

Shares of K stock opened at $81.06 on Thursday. The stock has a market cap of $27.71 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a 52-week low of $49.28 and a 52-week high of $81.21. The firm’s 50-day moving average is $79.89 and its 200-day moving average is $66.31.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue was down 4.7% compared to the same quarter last year. Sell-side analysts predict that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given 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 annualized dividend and a dividend yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the transaction, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the transaction, the insider now owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. 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 90 days, insiders have sold 1,154,298 shares of company stock worth $88,847,101. Corporate insiders own 1.80% of the company’s stock.

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.