Russell Investments Group Ltd. Purchases 39,829 Shares of Kellanova $K

Key Points

• Russell Investments Group Ltd. increased its holdings in Kellanova by 18.7%, acquiring an additional 39,829 shares, bringing its total ownership to 253,361 shares valued at approximately $20.9 million.
• Kellanova recently declared a quarterly dividend of $0.58 per share, up from the prior dividend of $0.57, resulting in an annualized dividend yield of 2.9%.
• Despite posting a quarterly revenue of $3.20 billion, Kellanova missed EPS estimates by $0.05, reporting $0.94 compared to analysts' expectations of $0.99.

Russell Investments Group Ltd. raised its stake in shares of Kellanova (NYSE:K - Free Report) by 18.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 253,361 shares of the company's stock after acquiring an additional 39,829 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Kellanova worth $20,899,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Financial Counselors Inc. purchased a new stake in Kellanova during the 1st quarter valued at $522,000. IFM Investors Pty Ltd grew its holdings in shares of Kellanova by 11.6% in the first quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company's stock worth $4,620,000 after acquiring an additional 5,957 shares during the period. Retirement Guys Formula LLC purchased a new stake in Kellanova during the first quarter valued at $934,000. Syquant Capital Sas lifted its holdings in Kellanova by 39.9% in the first quarter. Syquant Capital Sas now owns 511,400 shares of the company's stock valued at $42,185,000 after acquiring an additional 145,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Kellanova by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company's stock worth $2,771,000 after purchasing an additional 3,747 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on K shares. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and a consensus target price of $83.38.

Kellanova Price Performance

K stock traded up $0.0350 during midday trading on Tuesday, hitting $80.0550. The company's stock had a trading volume of 1,297,274 shares, compared to its average volume of 2,232,723. The firm has a market capitalization of $27.83 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 4.96 and a beta of 0.27. The company has a 50 day moving average of $79.73 and a two-hundred day moving average of $81.43. Kellanova has a 12 month low of $77.70 and a 12 month high of $83.22. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. On average, analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.9%. This is a boost from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio is currently 59.84%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $80.07, for a total transaction of $9,174,660.81. Following the sale, the insider directly owned 45,326,620 shares of the company's stock, valued at $3,629,302,463.40. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 1,260,413 shares of company stock valued at $101,234,081 in the last ninety days. Company insiders own 1.80% of the company's stock.

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.