AG2R LA Mondiale Gestion D Actifs Purchases Shares of 12,286 Kellanova $K

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 12,286 shares of Kellanova, valued at approximately $1,015,000, in the first quarter of 2023.
• Kellanova plans to pay a quarterly dividend of $0.58 on September 15, which represents an increase from the previous dividend of $0.57.
• An insider trade saw the Kellogg W. K. Foundation Trust sell 114,599 shares for over $9 million, reducing their ownership stake slightly after the transaction.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in Kellanova (NYSE:K - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,286 shares of the company's stock, valued at approximately $1,015,000.

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

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares of the company's stock, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 1,031,263 shares of company stock worth $82,079,367 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on K. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 price target for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. started coverage on Kellanova in a research report on Wednesday, August 20th. They set a "neutral" rating and a $83.50 target price on the stock. Finally, Wall Street Zen raised Kellanova from a "sell" rating to a "hold" rating in a report on Saturday. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $83.38.

Kellanova Stock Down 0.2%

Shares of NYSE K opened at $79.41 on Monday. The business has a 50-day moving average price of $79.76 and a 200 day moving average price of $81.08. The stock has a market cap of $27.61 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 4.95 and a beta of 0.27. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 52-week low of $77.70 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. Kellanova's revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. Equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. Kellanova's dividend payout ratio is currently 60.89%.

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.

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