IFM Investors Pty Ltd Raises Stock Position in Kellanova (NYSE:K)

IFM Investors Pty Ltd boosted its stake in Kellanova (NYSE:K - Free Report) by 11.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,241 shares of the company's stock after buying an additional 5,957 shares during the quarter. IFM Investors Pty Ltd's holdings in Kellanova were worth $4,620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Grove Bank & Trust bought a new position in Kellanova in the 1st quarter worth about $25,000. MorganRosel Wealth Management LLC bought a new position in Kellanova in the 1st quarter worth about $27,000. Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova in the 4th quarter worth about $32,000. Finally, Accredited Wealth Management LLC bought a new position in Kellanova in the 4th quarter worth about $36,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

K stock traded down $0.39 during trading on Monday, reaching $79.61. The stock had a trading volume of 3,005,414 shares, compared to its average volume of 3,000,826. The stock's 50 day moving average is $81.30 and its two-hundred day moving average is $81.77. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. The firm has a market cap of $27.62 billion, a PE ratio of 20.10, a PEG ratio of 4.24 and a beta of 0.28. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. Kellanova's dividend payout ratio is 57.58%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $79.37, for a total transaction of $9,094,452.71. Following the sale, the insider directly owned 46,014,118 shares in the company, valued at approximately $3,652,140,545.66. This represents a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $102,665,222. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on K shares. 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. Royal Bank Of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of "Hold" and a consensus target price of $79.75.

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.