Kellanova $K Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Kellanova by 11% in the first quarter, now owning 2,953,288 shares valued at approximately $243.6 million.
• Kellanova recently declared a quarterly dividend of $0.58 per share, representing a slight increase from the previous quarter and reflecting an annualized yield of 2.9%.
• Wall Street analysts have mixed opinions on Kellanova, with the stock receiving a consensus rating of "Hold" and a target price averaging $83.38.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Kellanova (NYSE:K - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,953,288 shares of the company's stock after purchasing an additional 292,063 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.85% of Kellanova worth $243,617,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of K. Grove Bank & Trust acquired a new stake in shares of Kellanova during the first quarter worth $25,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Kellanova during the first quarter worth $25,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Kellanova during the first quarter worth $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of Kellanova during the first quarter worth $49,000. Finally, Dagco Inc. acquired a new stake in shares of Kellanova during the first quarter worth $49,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

K has been the subject of several recent research reports. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 price target for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 target price for the company. Finally, Wall Street Zen downgraded Kellanova from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.38.

Kellanova Price Performance

Kellanova stock opened at $79.62 on Friday. The company has a market cap of $27.68 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 4.92 and a beta of 0.27. 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 one year low of $77.70 and a one year high of $83.22. The business has a fifty day moving average of $79.77 and a two-hundred day moving average of $81.12.

Kellanova (NYSE:K - Get Free Report) last released its quarterly 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). The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. As a group, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.58 per share. This is a boost from Kellanova's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.32 annualized dividend and a dividend yield of 2.9%. Kellanova's dividend payout ratio is presently 60.89%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares of the company's stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 1,145,846 shares of company stock worth $91,267,778. 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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