OVERSEA CHINESE BANKING Corp Ltd Has $40.55 Million Position in Kellanova (NYSE:K)

OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Kellanova (NYSE:K - Free Report) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 491,553 shares of the company's stock after buying an additional 27,900 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.14% of Kellanova worth $40,547,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of K. Norges Bank bought a new position in shares of Kellanova during the 4th quarter valued at about $285,126,000. Franklin Resources Inc. lifted its holdings in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after purchasing an additional 2,313,047 shares in the last quarter. FIL Ltd lifted its holdings in shares of Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after purchasing an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Kellanova by 136.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock valued at $141,356,000 after purchasing an additional 1,006,100 shares in the last quarter. Finally, TIG Advisors LLC lifted its holdings in shares of Kellanova by 76.5% during the 4th quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock valued at $152,084,000 after purchasing an additional 813,901 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Down 0.3%

Shares of Kellanova stock opened at $79.43 on Monday. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The stock has a market cap of $27.56 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.21 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. The business's 50 day moving average is $80.98 and its 200-day moving average is $81.72.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) 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 the consensus estimate of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.87%. Kellanova's payout ratio is presently 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 company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $79.68, for a total value of $9,129,973.44. Following the transaction, the insider directly owned 45,899,535 shares of the company's stock, valued at $3,657,274,948.80. This represents a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 1,260,413 shares of company stock worth $102,352,411. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research note on Thursday, May 29th. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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.

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