Kellanova (NYSE:K) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in shares of Kellanova (NYSE:K) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,490 shares of the company’s stock after selling 832 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Kellanova worth $11,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in K. HB Wealth Management LLC grew its stake in shares of Kellanova by 72.1% in the fourth quarter. HB Wealth Management LLC now owns 6,673 shares of the company’s stock worth $373,000 after acquiring an additional 2,795 shares in the last quarter. Raymond James & Associates lifted its position in shares of Kellanova by 11.9% during the 4th quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after purchasing an additional 42,656 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Kellanova by 123.5% during the 4th quarter. Pacer Advisors Inc. now owns 81,129 shares of the company’s stock worth $4,536,000 after purchasing an additional 44,826 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Kellanova by 1,562.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,931 shares of the company’s stock worth $18,670,000 after purchasing an additional 313,848 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Kellanova during the 4th quarter worth $160,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock traded up $0.19 on Friday, reaching $57.47. 1,783,469 shares of the stock were exchanged, compared to its average volume of 2,778,516. Kellanova has a 1-year low of $47.63 and a 1-year high of $67.81. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The business has a fifty day moving average price of $58.46 and a two-hundred day moving average price of $57.09. The firm has a market capitalization of $19.65 billion, a PE ratio of 21.52, a PEG ratio of 2.08 and a beta of 0.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Kellanova will post 3.61 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.97%. Kellanova’s dividend payout ratio is presently 83.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. DA Davidson boosted their price target on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Barclays reduced their price target on shares of Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kellanova from $62.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.50.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the sale, the insider now owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the sale, the insider now directly owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 865,600 shares of company stock worth $50,897,082. 1.80% of the stock is owned by company 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.