Boston Trust Walden Corp Makes New Investment in Kellanova (NYSE:K)

Boston Trust Walden Corp purchased a new position in shares of Kellanova (NYSE:K) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,700 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors also recently made changes to their positions in K. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Kellanova by 6.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 15,346 shares of the company’s stock worth $879,000 after acquiring an additional 866 shares during the period. Norden Group LLC bought a new stake in shares of Kellanova during the first quarter worth approximately $395,000. North Star Investment Management Corp. boosted its holdings in shares of Kellanova by 3.3% during the first quarter. North Star Investment Management Corp. now owns 16,941 shares of the company’s stock worth $971,000 after acquiring an additional 546 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Kellanova by 23.3% during the first quarter. Sequoia Financial Advisors LLC now owns 9,751 shares of the company’s stock worth $559,000 after acquiring an additional 1,841 shares during the period. Finally, Flynn Zito Capital Management LLC boosted its stake in shares of Kellanova by 15.1% in the first quarter. Flynn Zito Capital Management LLC now owns 4,618 shares of the company’s stock valued at $265,000 after buying an additional 606 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $80.88 on Monday. Kellanova has a fifty-two week low of $49.79 and a fifty-two week high of $81.26. The stock has a market cap of $27.65 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.60 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. The firm’s 50-day simple moving average is $80.61 and its 200 day simple moving average is $67.48.

Kellanova (NYSE:K) last announced its quarterly earnings results 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 business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. As a group, research analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the sale, the insider now owns 50,830,838 shares of the company’s stock, valued at approximately $3,761,990,320.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,113,281 shares of company stock worth $89,184,520. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Stifel Nicolaus boosted their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. StockNews.com assumed coverage on Kellanova in a research note on Sunday. They issued a “hold” rating for the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and boosted their price target for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen investment 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.32.

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.