Kellanova (NYSE:K) Position Trimmed by Vinva Investment Management Ltd

Vinva Investment Management Ltd decreased its holdings in shares of Kellanova (NYSE:K) by 65.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,309 shares of the company’s stock after selling 21,295 shares during the period. Vinva Investment Management Ltd’s holdings in Kellanova were worth $914,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its stake in Kellanova by 26.6% during the third quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company’s stock valued at $884,000 after purchasing an additional 2,300 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Kellanova by 2.0% during the third quarter. CreativeOne Wealth LLC now owns 13,303 shares of the company’s stock valued at $1,074,000 after purchasing an additional 258 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Kellanova during the third quarter valued at $4,843,000. Townsquare Capital LLC bought a new position in shares of Kellanova during the third quarter worth about $414,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Kellanova in the 3rd quarter worth about $107,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $81.30 on Friday. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average of $80.82 and a 200-day moving average of $71.26. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Analysts Set New Price Targets

K has been the topic of a number of analyst reports. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays increased their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $76.35.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,145,830 shares of company stock valued at $92,516,606 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.