Czech National Bank Buys 3,458 Shares of Kellanova (NYSE:K)

Czech National Bank increased its stake in Kellanova (NYSE:K - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 61,754 shares of the company's stock after purchasing an additional 3,458 shares during the quarter. Czech National Bank's holdings in Kellanova were worth $5,094,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after purchasing an additional 281,137 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after purchasing an additional 158,560 shares during the last quarter. Pentwater Capital Management LP lifted its holdings in Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after purchasing an additional 450,700 shares during the last quarter. Invesco Ltd. lifted its holdings in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after purchasing an additional 111,396 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Kellanova by 15.7% in the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock worth $315,613,000 after purchasing an additional 530,132 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of K traded up $0.19 on Thursday, reaching $82.10. 2,626,877 shares of the stock traded hands, compared to its average volume of 2,764,790. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The stock's 50-day moving average price is $82.35 and its 200-day moving average price is $81.88.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Kellanova's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. Equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. Kellanova's dividend payout ratio is currently 57.58%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the completion of the sale, the insider now directly owns 47,618,280 shares of the company's stock, valued at $3,917,079,712.80. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 1,374,996 shares of company stock valued at $113,174,775. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on K shares. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $79.75.

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.