Vanguard Personalized Indexing Management LLC Acquires 4,466 Shares of Kellanova $K

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Kellanova shares by 8.4% during the second quarter, acquiring an additional 4,466 shares, bringing its total to 57,452 shares valued at approximately $4.57 million.
• Major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares for over $9 million, which is a 0.25% decrease in their ownership.
• Kellanova announced a quarterly dividend of $0.58 per share, reflecting an increase from the previous dividend of $0.57, and has a payout ratio of 60.89%.

Vanguard Personalized Indexing Management LLC boosted its holdings in Kellanova (NYSE:K - Free Report) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,452 shares of the company's stock after acquiring an additional 4,466 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Kellanova were worth $4,571,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Kellanova by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock valued at $2,697,039,000 after purchasing an additional 259,604 shares during the last quarter. Keybank National Association OH increased its position in shares of Kellanova by 0.7% during the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock valued at $1,626,579,000 after purchasing an additional 128,439 shares during the last quarter. Pentwater Capital Management LP increased its position in shares of Kellanova by 39.0% during the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company's stock valued at $659,920,000 after purchasing an additional 2,245,000 shares during the last quarter. Northern Trust Corp increased its position in shares of Kellanova by 3.0% during the 1st quarter. Northern Trust Corp now owns 4,015,549 shares of the company's stock valued at $331,243,000 after purchasing an additional 117,650 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Kellanova by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company's stock valued at $243,617,000 after purchasing an additional 292,063 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on K. Weiss Ratings upgraded Kellanova from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Kellanova in a research report on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price objective on the stock. Finally, Wall Street Zen lowered Kellanova from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $83.38.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 572,931 shares of company stock valued at $45,755,411. 1.80% of the stock is currently owned by company insiders.

Kellanova Price Performance

K opened at $82.81 on Tuesday. The stock's 50 day simple moving average is $80.01 and its 200 day simple moving average is $80.78. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The firm has a market cap of $28.79 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.58 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from Kellanova's previous quarterly dividend of $0.57. 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.

Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellanova (NYSE:K - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.