AustralianSuper Pty Ltd Invests $17.56 Million in Kellanova (NYSE:K)

AustralianSuper Pty Ltd bought a new stake in Kellanova (NYSE:K - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 212,844 shares of the company's stock, valued at approximately $17,558,000. AustralianSuper Pty Ltd owned 0.06% of Kellanova at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Grove Bank & Trust purchased a new position in shares of Kellanova in the first quarter valued at about $25,000. MorganRosel Wealth Management LLC purchased a new position in Kellanova in the 1st quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new stake in Kellanova in the fourth quarter valued at approximately $36,000. Minot DeBlois Advisors LLC acquired a new position in shares of Kellanova during the fourth quarter worth $42,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Kellanova in the first quarter valued at about $49,000. 83.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $79.92, for a total value of $9,157,473.36. Following the completion of the sale, the insider owned 45,670,369 shares in the company, valued at approximately $3,649,975,890.48. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,374,996 shares of company stock worth $111,198,218 in the last three months. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on K shares. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research note on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus target price of $79.75.

Kellanova Stock Down 0.1%

Shares of Kellanova stock traded down $0.06 during trading hours on Wednesday, reaching $80.04. The company's stock had a trading volume of 1,188,672 shares, compared to its average volume of 3,041,483. Kellanova has a one year low of $56.37 and a one year high of $83.22. The stock's fifty day simple moving average is $80.70 and its two-hundred day simple moving average is $81.68. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The company has a market capitalization of $27.77 billion, a P/E ratio of 20.21, a P/E/G ratio of 4.24 and a beta of 0.28.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the company posted $1.01 earnings per share. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova's dividend payout ratio is currently 57.58%.

Kellanova Company 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.