IFM Investors Pty Ltd Increases Holdings in Kellanova (NYSE:K)

IFM Investors Pty Ltd lifted its position in shares of Kellanova (NYSE:K - Free Report) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,241 shares of the company's stock after acquiring an additional 5,957 shares during the quarter. IFM Investors Pty Ltd's holdings in Kellanova were worth $4,620,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Grove Bank & Trust purchased a new stake in shares of Kellanova in the 1st quarter worth about $25,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Kellanova in the first quarter valued at about $27,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the fourth quarter valued at about $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova in the 4th quarter valued at approximately $32,000. Finally, Accredited Wealth Management LLC purchased a new stake in Kellanova in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Kellanova Trading Up 0.1%

NYSE K opened at $80.04 on Monday. Kellanova has a one year low of $55.96 and a one year high of $83.22. The company's 50 day moving average price is $81.30 and its 200 day moving average price is $81.77. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 4.24 and a beta of 0.28.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the prior year, the business posted $1.01 EPS. The business's revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Kellanova's dividend payout ratio is currently 57.58%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on K shares. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank Of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price objective on the stock in a research note on Thursday, May 29th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus price target of $79.75.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, June 30th. The stock was 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 of the company's stock, valued at approximately $3,652,140,545.66. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock worth $102,665,222 in the last 90 days. Company insiders own 1.80% of the company's stock.

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.

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