Deutsche Bank AG Increases Stock Holdings in Kellanova (NYSE:K)

Key Points

• Deutsche Bank AG increased its stake in Kellanova by 7.5%, owning 1.84 million shares worth approximately $152 million as of the latest SEC filing.
• Kellanova announced a quarterly dividend increase to $0.58 per share, scheduled to be paid on September 15th, which reflects a 2.9% yield.
• The company's recent earnings report showed an EPS of $0.94, missing analyst expectations, although revenue was slightly above forecasts at $3.20 billion.

Deutsche Bank AG lifted its holdings in shares of Kellanova (NYSE:K - Free Report) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,842,282 shares of the company's stock after purchasing an additional 128,609 shares during the quarter. Deutsche Bank AG owned 0.53% of Kellanova worth $151,970,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in K. Tudor Investment Corp ET AL grew its stake in Kellanova by 136.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after buying an additional 1,006,100 shares in the last quarter. TIG Advisors LLC grew its stake in Kellanova by 76.5% during the fourth quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock worth $152,084,000 after buying an additional 813,901 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Kellanova by 43.1% in the 4th quarter. Bank of America Corp DE now owns 2,255,889 shares of the company's stock valued at $182,659,000 after purchasing an additional 679,754 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Kellanova by 107.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,262,032 shares of the company's stock valued at $102,187,000 after purchasing an additional 653,504 shares in the last quarter. Finally, Sona Asset Management US LLC boosted its stake in shares of Kellanova by 427.9% in the 4th quarter. Sona Asset Management US LLC now owns 698,073 shares of the company's stock valued at $56,523,000 after purchasing an additional 565,839 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Insider Activity

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 Monday, July 28th. The stock was sold at an average price of $79.79, for a total transaction of $9,142,577.57. Following the completion of the transaction, the insider directly owned 45,555,786 shares in the company, valued at approximately $3,634,896,164.94. The trade was a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 1,260,413 shares of company stock worth $101,431,163. Insiders own 1.80% of the company's stock.

Kellanova Stock Up 0.1%

Shares of K traded up $0.09 during trading hours on Tuesday, hitting $80.20. The company had a trading volume of 1,538,281 shares, compared to its average volume of 2,998,885. The firm has a fifty day moving average price of $79.95 and a 200-day moving average price of $81.50. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The stock has a market capitalization of $27.88 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 4.96 and a beta of 0.27. Kellanova has a 52-week low of $73.79 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%. The business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same period last year, the firm posted $1.01 EPS. Kellanova's quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.58 per share. 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 currently 59.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Twelve investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus price target of $81.80.

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.