Banco Bilbao Vizcaya Argentaria S.A. Has $9.34 Million Stock Holdings in Kellanova $K

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Kellanova by 3.2%, acquiring an additional 3,473 shares, bringing its total holdings to 113,229 shares valued at approximately $9.34 million.
• Major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares at an average price of $80.07, reducing its stake by 0.25% and retaining approximately 45.3 million shares.
• Kellanova announced a dividend increase to $0.58 per share, with a 2.9% yield, effective on September 15th for investors of record on September 2nd, reflecting a commitment to returning value to shareholders.

Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Kellanova (NYSE:K - Free Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,229 shares of the company's stock after purchasing an additional 3,473 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Kellanova were worth $9,340,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of K. Envestnet Asset Management Inc. boosted its holdings in shares of Kellanova by 102.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 69,962 shares of the company's stock valued at $5,665,000 after purchasing an additional 35,377 shares in the last quarter. Mariner LLC boosted its holdings in shares of Kellanova by 32.4% in the 4th quarter. Mariner LLC now owns 41,591 shares of the company's stock valued at $3,368,000 after purchasing an additional 10,184 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Kellanova in the 4th quarter valued at $857,000. Norinchukin Bank The lifted its stake in shares of Kellanova by 7.1% in the 4th quarter. Norinchukin Bank The now owns 11,532 shares of the company's stock valued at $934,000 after acquiring an additional 765 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Kellanova by 2.0% in the 4th quarter. MetLife Investment Management LLC now owns 71,041 shares of the company's stock valued at $5,752,000 after acquiring an additional 1,392 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on K. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. began coverage on Kellanova in a research note on Wednesday. They issued a "neutral" rating and a $83.50 price target for the company. Finally, Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $83.40.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $79.98, for a total transaction of $9,164,348.34. Following the transaction, the insider directly owned 45,212,037 shares of the company's stock, valued at approximately $3,616,058,719.26. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 1,260,413 shares of company stock worth $100,975,123. 1.80% of the stock is currently owned by insiders.

Kellanova Trading Up 0.2%

K traded up $0.1250 during midday trading on Friday, hitting $80.1150. 2,223,125 shares of the company were exchanged, compared to its average volume of 2,078,380. The firm has a market capitalization of $27.85 billion, a P/E ratio of 21.03, a P/E/G ratio of 4.97 and a beta of 0.27. Kellanova has a 1-year low of $77.70 and a 1-year high of $83.22. The firm's 50 day moving average price is $79.70 and its 200-day moving average price is $81.39. 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 (NYSE:K - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This is an increase from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 2.9%. Kellanova's payout ratio is presently 59.84%.

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.