Mn Services Vermogensbeheer B.V. Acquires 4,100 Shares of Kellanova $K

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Kellanova by 4.1% during the second quarter, raising its holdings to approximately $8.22 million.
• Kellanova reported quarterly earnings of $0.94 per share, missing consensus estimates of $0.99, while revenue increased 0.3% year-over-year.
• The company declared a quarterly dividend of $0.58 per share, reflecting an annual yield of 3.0% and an increase from its previous dividend of $0.57.

Mn Services Vermogensbeheer B.V. lifted its stake in shares of Kellanova (NYSE:K - Free Report) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,300 shares of the company's stock after acquiring an additional 4,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Kellanova were worth $8,215,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its position in shares of Kellanova by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company's stock valued at $526,000 after buying an additional 123 shares during the last quarter. Independent Advisor Alliance lifted its stake in shares of Kellanova by 1.8% during the 1st quarter. Independent Advisor Alliance now owns 7,334 shares of the company's stock worth $605,000 after purchasing an additional 131 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Kellanova by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company's stock worth $860,000 after purchasing an additional 132 shares during the last quarter. Legacy Advisors LLC grew its position in shares of Kellanova by 7.1% in the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company's stock valued at $222,000 after purchasing an additional 179 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Kellanova by 6.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,288 shares of the company's stock valued at $271,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on K. Wall Street Zen lowered Kellanova from a "hold" rating to a "sell" rating in a research report on Sunday. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price target for the company. Finally, Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.38.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 916,680 shares of company stock worth $73,093,769 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Down 0.4%

NYSE K traded down $0.30 during trading on Monday, reaching $77.08. The company's stock had a trading volume of 1,556,455 shares, compared to its average volume of 2,952,124. Kellanova has a 1-year low of $76.99 and a 1-year high of $83.22. The business has a 50-day moving average price of $79.67 and a 200-day moving average price of $80.94. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $26.80 billion, a PE ratio of 20.22, a PEG ratio of 4.82 and a beta of 0.27.

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 company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. On average, research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.58 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a dividend yield of 3.0%. Kellanova's dividend payout ratio is 60.89%.

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.