Charles Schwab Investment Management Inc. Acquires 98,294 Shares of Kellanova (NYSE:K)

Charles Schwab Investment Management Inc. increased its position in shares of Kellanova (NYSE:K - Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,657,709 shares of the company's stock after purchasing an additional 98,294 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.65% of Kellanova worth $316,323,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. grew its stake in shares of Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company's stock worth $28,000 after purchasing an additional 393 shares during the period. Baker Avenue Asset Management LP grew its position in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company's stock worth $30,000 after buying an additional 341 shares during the period. Blue Trust Inc. increased its holdings in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company's stock valued at $34,000 after buying an additional 206 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company's stock valued at $67,000 after acquiring an additional 928 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd boosted its stake in shares of Kellanova by 1,450.0% during the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company's stock worth $92,000 after acquiring an additional 1,450 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the sale, the insider now directly owns 52,620,238 shares in the company, valued at approximately $2,824,128,173.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the completion of the transaction, the insider now owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,021,200 shares of company stock worth $57,219,110 over the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova Stock Up 1.1 %

Shares of Kellanova stock traded up $0.69 on Wednesday, hitting $62.33. 3,076,211 shares of the company's stock traded hands, compared to its average volume of 3,257,127. Kellanova has a 52-week low of $47.63 and a 52-week high of $71.53. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The stock has a market cap of $21.31 billion, a P/E ratio of 23.34, a PEG ratio of 2.32 and a beta of 0.39. The firm's 50-day moving average is $56.42 and its 200 day moving average is $54.80.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The company's revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts anticipate that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Monday, June 3rd. Kellanova's dividend payout ratio is presently 83.90%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup assumed coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a "neutral" rating and a $57.00 price target on the stock. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on Kellanova from $59.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, May 3rd. Barclays lifted their price objective on Kellanova from $60.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, Stifel Nicolaus upped their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, January 25th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average target price of $61.46.

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.