Keybank National Association OH Purchases 128,439 Shares of Kellanova (NYSE:K)

Keybank National Association OH increased its stake in shares of Kellanova (NYSE:K - Free Report) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,718,498 shares of the company's stock after purchasing an additional 128,439 shares during the quarter. Kellanova comprises about 6.5% of Keybank National Association OH's portfolio, making the stock its biggest position. Keybank National Association OH owned 5.71% of Kellanova worth $1,626,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after acquiring an additional 281,137 shares during the period. Geode Capital Management LLC raised its holdings in Kellanova by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after purchasing an additional 158,560 shares during the period. Pentwater Capital Management LP boosted its position in shares of Kellanova by 8.5% during the fourth quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after purchasing an additional 450,700 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after buying an additional 111,396 shares during the period. Finally, Northern Trust Corp increased its position in shares of Kellanova by 15.7% in the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after buying an additional 530,132 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Kellanova Stock Performance

Shares of Kellanova stock traded up $0.10 during trading on Wednesday, reaching $79.96. The company's stock had a trading volume of 2,739,186 shares, compared to its average volume of 2,984,900. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The business's 50-day moving average price is $81.46 and its 200-day moving average price is $81.77. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The firm has a market cap of $27.74 billion, a PE ratio of 20.19, a P/E/G ratio of 4.16 and a beta of 0.28.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. Equities analysts forecast 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. Shareholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova's payout ratio is presently 57.58%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on 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 completion of the sale, the insider directly owned 46,014,118 shares in the company, valued at $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 is available through this link. Over the last 90 days, insiders sold 1,374,996 shares of company stock valued at $112,064,466. 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.