Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 20,500 Shares of Kellanova (NYSE:K)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Kellanova by purchasing 20,500 shares, bringing its total ownership to 157,585 shares valued at approximately $12.99 million.
• Kellanova announced a quarterly dividend increase to $0.58 per share, with a dividend yield of 2.9%, set to be paid on September 15th.
• The company reported earnings per share of $0.94 for the last quarter, missing estimates, while revenue slightly increased by 0.3% compared to last year.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Kellanova (NYSE:K - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 157,585 shares of the company's stock after purchasing an additional 20,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Kellanova were worth $12,999,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Financial Counselors Inc. bought a new stake in shares of Kellanova in the 1st quarter valued at $522,000. IFM Investors Pty Ltd increased its stake in shares of Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company's stock valued at $4,620,000 after acquiring an additional 5,957 shares in the last quarter. Retirement Guys Formula LLC bought a new stake in shares of Kellanova in the 1st quarter valued at $934,000. Syquant Capital Sas increased its stake in shares of Kellanova by 39.9% in the 1st quarter. Syquant Capital Sas now owns 511,400 shares of the company's stock valued at $42,185,000 after acquiring an additional 145,900 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Kellanova by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company's stock valued at $2,771,000 after acquiring an additional 3,747 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

Kellanova Stock Performance

NYSE K opened at $80.10 on Friday. Kellanova has a 1 year low of $77.70 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The firm has a market cap of $27.85 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 4.97 and a beta of 0.27. The company has a fifty day moving average price of $79.84 and a 200-day moving average price of $81.47.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (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 firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The business's revenue was up .3% compared to the same quarter last year. As a group, equities research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.58 dividend. This is an increase 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 59.84%.

Analyst Ratings Changes

K has been the subject of several research analyst reports. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research note on Thursday, May 29th. Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $83.38.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $80.07, for a total value of $9,174,660.81. Following the transaction, the insider directly owned 45,326,620 shares of the company's stock, valued at approximately $3,629,302,463.40. 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 hyperlink. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $101,234,081. 1.80% of the stock is currently owned by insiders.

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.

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