Czech National Bank Boosts Position in Kellanova $K

Key Points

• The Czech National Bank increased its position in Kellanova by 6.4% during the second quarter, holding 65,720 shares valued at approximately $5.23 million.
• Kellanova recently raised its quarterly dividend to $0.58 per share, reflecting a positive change and an annual yield of 3.0%.
• Analysts have generally rated Kellanova as a "Hold," with Citigroup and JPMorgan Chase both setting target prices around $83.50.

Czech National Bank grew its holdings in shares of Kellanova (NYSE:K - Free Report) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,720 shares of the company's stock after acquiring an additional 3,966 shares during the quarter. Czech National Bank's holdings in Kellanova were worth $5,227,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of K. Vanguard Group Inc. raised its holdings in shares of Kellanova by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock valued at $2,697,039,000 after buying an additional 259,604 shares in the last quarter. Keybank National Association OH raised its holdings in shares of Kellanova by 0.7% during the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock valued at $1,626,579,000 after buying an additional 128,439 shares in the last quarter. Pentwater Capital Management LP raised its holdings in shares of Kellanova by 39.0% during the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company's stock valued at $659,920,000 after buying an additional 2,245,000 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Kellanova by 3.0% during the 1st quarter. Northern Trust Corp now owns 4,015,549 shares of the company's stock valued at $331,243,000 after buying an additional 117,650 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kellanova by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company's stock valued at $243,617,000 after buying an additional 292,063 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 916,680 shares of company stock valued at $73,093,769 over the last 90 days. Insiders own 1.80% of the company's stock.

Kellanova Stock Down 0.2%

Shares of NYSE K traded down $0.17 during mid-day trading on Monday, hitting $77.22. 446,980 shares of the stock traded hands, compared to its average volume of 2,945,862. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a 52 week low of $76.99 and a 52 week high of $83.22. The company has a market cap of $26.85 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 4.82 and a beta of 0.27. The stock has a fifty day moving average price of $79.67 and a 200-day moving average price of $80.94.

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

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.0%. This is a positive change from Kellanova's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, September 2nd. Kellanova's dividend payout ratio is presently 60.89%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on Kellanova in a report on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price objective on the stock. Wall Street Zen cut Kellanova from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Citigroup raised Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $83.38.

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.