97,350 Shares in Kellanova (NYSE:K) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new stake in Kellanova (NYSE:K) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 97,350 shares of the company’s stock, valued at approximately $7,864,000.

A number of other large investors have also recently bought and sold shares of K. Swedbank AB lifted its position in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after acquiring an additional 46,450 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after purchasing an additional 217,320 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. Atria Investments Inc purchased a new position in shares of Kellanova during the first quarter valued at approximately $1,003,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Kellanova during the third quarter worth approximately $4,211,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock valued at $92,516,606 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on K. Deutsche Bank Aktiengesellschaft boosted their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. StockNews.com started coverage on Kellanova in a research note on Thursday. They issued a “hold” rating on the stock. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

K opened at $81.29 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $80.82 and its 200 day moving average price is $71.39. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, sell-side analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. Kellanova’s dividend payout ratio is currently 78.35%.

Kellanova 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.