Swedbank AB Raises Stock Holdings in Kellanova (NYSE:K)

Swedbank AB boosted its holdings in Kellanova (NYSE:K) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,521 shares of the company’s stock after purchasing an additional 46,450 shares during the period. Swedbank AB’s holdings in Kellanova were worth $22,076,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. bought a new stake in Kellanova in the second quarter worth about $29,000. CVA Family Office LLC boosted its stake in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Finally, MCF Advisors LLC increased its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on K. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Stifel Nicolaus increased their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. StockNews.com began coverage on shares of Kellanova in a research report on Wednesday, November 20th. They set a “hold” rating for the company. Finally, Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and one has issued 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 target price of $76.35.

Kellanova Stock Down 0.1 %

K opened at $81.11 on Tuesday. The firm has a market capitalization of $27.96 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a one year low of $51.02 and a one year high of $81.34. The company has a fifty day moving average price of $80.78 and a 200-day moving average price of $70.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last posted 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 return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Equities research analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. This represents a 0.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,109,047 shares of company stock worth $89,483,556 over the last three months. 1.80% of the stock is owned by insiders.

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.