Kellanova (NYSE:K) Shares Bought by OLD Republic International Corp

OLD Republic International Corp raised its position in Kellanova (NYSE:K - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,500 shares of the company's stock after purchasing an additional 4,000 shares during the period. Kellanova comprises about 1.7% of OLD Republic International Corp's investment portfolio, making the stock its 28th largest position. OLD Republic International Corp owned about 0.16% of Kellanova worth $44,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of K. Eukles Asset Management grew its position in shares of Kellanova by 1.1% in the first quarter. Eukles Asset Management now owns 24,148 shares of the company's stock valued at $1,992,000 after purchasing an additional 254 shares during the period. Impax Asset Management Group plc grew its holdings in Kellanova by 49.3% in the 1st quarter. Impax Asset Management Group plc now owns 101,988 shares of the company's stock valued at $8,413,000 after buying an additional 33,688 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Kellanova in the 1st quarter valued at about $151,000. IFM Investors Pty Ltd grew its holdings in Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company's stock valued at $4,620,000 after buying an additional 5,957 shares during the period. Finally, Calamos Advisors LLC lifted its holdings in shares of Kellanova by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 120,449 shares of the company's stock worth $9,936,000 after acquiring an additional 1,341 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on K shares. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Royal Bank Of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Kellanova presently has an average rating of "Hold" and an average target price of $79.75.

Kellanova Stock Up 0.5%

NYSE K traded up $0.42 during mid-day trading on Thursday, reaching $79.64. 3,316,249 shares of the company's stock traded hands, compared to its average volume of 3,009,335. The company has a fifty day simple moving average of $81.11 and a 200-day simple moving average of $81.73. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The company has a market cap of $27.63 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 4.21 and a beta of 0.28. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25.

Kellanova (NYSE:K - Get Free Report) last released 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). The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. As a group, equities research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.86%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 46,014,118 shares in the company, valued at $3,652,140,545.66. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 1,374,996 shares of company stock valued at $111,795,196 in the last three months. 1.80% of the stock is currently owned by company insiders.

About Kellanova

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.