Raiffeisen Bank International AG raised its position in Kellanova (NYSE:K - Free Report) by 14.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,050 shares of the company's stock after purchasing an additional 19,990 shares during the period. Raiffeisen Bank International AG's holdings in Kellanova were worth $13,034,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of K. Avalon Trust Co purchased a new position in shares of Kellanova in the 1st quarter valued at $62,000. R Squared Ltd acquired a new stake in shares of Kellanova in the first quarter valued at approximately $552,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Kellanova by 6.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 491,553 shares of the company's stock worth $40,547,000 after acquiring an additional 27,900 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Kellanova by 4.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 78,623 shares of the company's stock valued at $6,486,000 after acquiring an additional 3,422 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Kellanova by 6.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,288 shares of the company's stock worth $271,000 after purchasing an additional 185 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on K. Citigroup upgraded 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. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating, According to MarketBeat, Kellanova currently has an average rating of "Hold" and an average price target of $81.80.
Read Our Latest Stock Report on K
Insider Buying and Selling at Kellanova
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $79.92, for a total transaction of $9,157,473.36. Following the sale, the insider owned 45,670,369 shares of the company's stock, valued at $3,649,975,890.48. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,374,996 shares of company stock valued at $110,891,136 over the last ninety days. Insiders own 1.80% of the company's stock.
Kellanova Stock Up 0.1%
Kellanova stock opened at $79.90 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.52. Kellanova has a 1-year low of $61.47 and a 1-year high of $83.22. The stock's 50 day moving average price is $80.24 and its 200 day moving average price is $81.57. The company has a market cap of $27.72 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 4.26 and a beta of 0.27.
Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.94 EPS 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 firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The firm's revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side 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. Stockholders of record on Tuesday, September 2nd will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Kellanova's previous quarterly dividend of $0.57. Kellanova's payout ratio is 59.84%.
About Kellanova
(
Free Report)
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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