Natixis Advisors LLC Raises Position in Kellanova (NYSE:K)

Natixis Advisors LLC grew its position in Kellanova (NYSE:K - Free Report) by 9.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 67,130 shares of the company's stock after buying an additional 5,647 shares during the period. Natixis Advisors LLC's holdings in Kellanova were worth $5,538,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in K. Grove Bank & Trust bought a new stake in shares of Kellanova in the first quarter worth approximately $25,000. MorganRosel Wealth Management LLC bought a new stake in shares of Kellanova in the first quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new stake in shares of Kellanova in the fourth quarter worth approximately $36,000. Minot DeBlois Advisors LLC bought a new stake in shares of Kellanova in the fourth quarter worth approximately $42,000. Finally, EQ Wealth Advisors LLC bought a new stake in Kellanova during the first quarter valued at approximately $49,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $79.79, for a total value of $9,142,577.57. Following the transaction, the insider owned 45,555,786 shares of the company's stock, valued at approximately $3,634,896,164.94. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock valued at $101,431,163 over the last quarter. 1.80% of the stock is currently owned by insiders.

Kellanova Price Performance

K stock opened at $79.78 on Wednesday. Kellanova has a one year low of $72.27 and a one year high of $83.22. The company's fifty day moving average price is $80.14 and its 200-day moving average price is $81.55. 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 company has a market capitalization of $27.74 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 4.97 and a beta of 0.27.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%. The company 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 analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.9%. This is an increase from Kellanova's previous quarterly dividend of $0.57. Kellanova's payout ratio is 59.84%.

Wall Street Analyst Weigh In

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

Kellanova 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.

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