Kellanova (NYSE:K) Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its stake in shares of Kellanova (NYSE:K - Free Report) by 75.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,518 shares of the company's stock after acquiring an additional 74,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Kellanova were worth $14,149,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Financial Counselors Inc. acquired a new stake in Kellanova in the first quarter valued at approximately $522,000. Aviva PLC boosted its stake in Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after buying an additional 13,531 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Kellanova by 11.6% during the first quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company's stock worth $4,620,000 after buying an additional 5,957 shares during the last quarter. Retirement Guys Formula LLC acquired a new position in shares of Kellanova during the 1st quarter valued at about $934,000. Finally, Syquant Capital Sas boosted its holdings in Kellanova by 39.9% in the 1st quarter. Syquant Capital Sas now owns 511,400 shares of the company's stock valued at $42,185,000 after purchasing an additional 145,900 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

K stock traded down $0.00 on Friday, reaching $79.86. 2,069,555 shares of the company's stock were exchanged, compared to its average volume of 2,930,639. The stock has a fifty day moving average of $80.48 and a 200-day moving average of $81.62. Kellanova has a twelve month low of $56.62 and a twelve month high of $83.22. The firm has a market cap of $27.71 billion, a PE ratio of 20.17, a P/E/G ratio of 4.25 and a beta of 0.28. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $1.01 earnings per share. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts predict 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. Investors 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 2.91%. This is a boost from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio is currently 57.58%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $79.54, for a total transaction of $9,113,931.82. Following the sale, the insider owned 45,784,952 shares in the company, valued at approximately $3,641,735,082.08. This represents a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,374,996 shares of company stock valued at $111,198,218 in the last three months. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented 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 upgraded shares of Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a report 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.com, the company presently has a consensus rating of "Hold" and an average target price of $79.75.

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.