Banque Transatlantique SA Invests $301,000 in Kellanova $K

Key Points

• Banque Transatlantique SA acquired nearly 4,000 shares of Kellanova, indicating institutional interest in the company, with the stake valued at approximately $301,000.
• Major shareholder, the Kellogg W. K. Foundation Trust, sold over 114,000 shares worth approximately $9.12 million, reducing their ownership slightly.
• Kellanova announced a quarterly dividend increase to $0.58 per share, reflecting a positive change from the previous dividend and suggesting a healthy dividend policy.

Banque Transatlantique SA bought a new position in Kellanova (NYSE:K - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,945 shares of the company's stock, valued at approximately $301,000.

A number of other large investors have also recently added to or reduced their stakes in K. Grove Bank & Trust bought a new position in shares of Kellanova in the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC acquired a new position in Kellanova in the 1st quarter valued at $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova in the 1st quarter valued at $27,000. Minot DeBlois Advisors LLC bought a new position in Kellanova in the 4th quarter worth $42,000. Finally, EQ Wealth Advisors LLC acquired a new position in Kellanova during the 1st quarter worth $49,000. Institutional investors own 83.87% of the company's stock.

Kellanova Stock Performance

Kellanova stock traded up $0.38 during trading hours on Friday, hitting $79.86. The stock had a trading volume of 3,493,186 shares, compared to its average volume of 2,334,247. The company has a market cap of $27.76 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 4.97 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 fifty-two week low of $77.70 and a fifty-two week high of $83.22. The company has a 50-day moving average of $79.81 and a two-hundred day moving average of $81.20.

Kellanova (NYSE:K - Get Free Report) last issued 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 firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm's revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. On average, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.58 per share. 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 yield of 2.9%. The ex-dividend date is Tuesday, September 2nd. Kellanova's dividend payout ratio is 60.89%.

Wall Street Analyst Weigh In

K has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on Kellanova in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price target on the stock. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Finally, Wall Street Zen lowered Kellanova from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $83.38.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 1,260,429 shares of company stock worth $100,650,980 over the last 90 days. 1.80% of the stock is currently owned by insiders.

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.