Kellanova $K Shares Purchased by Carmignac Gestion

Key Points

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Carmignac Gestion boosted its stake in Kellanova (NYSE:K - Free Report) by 35.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,934 shares of the company's stock after purchasing an additional 23,865 shares during the quarter. Carmignac Gestion's holdings in Kellanova were worth $7,584,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Pinnacle Associates Ltd. grew its holdings in Kellanova by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company's stock valued at $526,000 after purchasing an additional 123 shares during the period. Independent Advisor Alliance lifted its position in Kellanova by 1.8% during the first quarter. Independent Advisor Alliance now owns 7,334 shares of the company's stock valued at $605,000 after buying an additional 131 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Kellanova by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company's stock valued at $860,000 after buying an additional 132 shares in the last quarter. Legacy Advisors LLC lifted its position in Kellanova by 7.1% during the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company's stock valued at $222,000 after buying an additional 179 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Kellanova by 6.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,288 shares of the company's stock valued at $271,000 after buying an additional 185 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on K shares. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research report on Wednesday. They set a "neutral" rating and a $83.50 price target on the stock. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Finally, Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $83.40.

Kellanova Stock Up 0.2%

Shares of NYSE K traded up $0.1250 during trading on Friday, reaching $80.1150. 2,223,125 shares of the stock were exchanged, compared to its average volume of 2,078,380. The business's 50-day moving average price is $79.70 and its 200 day moving average price is $81.40. Kellanova has a twelve month low of $77.70 and a twelve month high of $83.22. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $27.85 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 4.96 and a beta of 0.27.

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

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.58 per share. This is a boost 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 payout ratio is presently 59.84%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Thursday, August 21st. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,260,413 shares of company stock worth $100,975,123 over the last 90 days. Insiders own 1.80% of the company's stock.

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.