Toronto Dominion Bank Has $14.44 Million Position in Kellanova (NYSE:K)

Toronto Dominion Bank raised its holdings in Kellanova (NYSE:K) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,845 shares of the company’s stock after acquiring an additional 8,686 shares during the quarter. Toronto Dominion Bank’s holdings in Kellanova were worth $14,435,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in K. Blue Trust Inc. increased its holdings in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Kellanova by 2.6% in the second quarter. Raymond James & Associates now owns 548,154 shares of the company’s stock worth $31,618,000 after buying an additional 13,793 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Kellanova by 27.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 19,578 shares of the company’s stock worth $1,129,000 after buying an additional 4,232 shares during the period. Nisa Investment Advisors LLC grew its stake in Kellanova by 18.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 38,964 shares of the company’s stock valued at $2,247,000 after buying an additional 5,962 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in Kellanova by 375.0% in the 2nd quarter. Continuum Advisory LLC now owns 1,026 shares of the company’s stock worth $59,000 after acquiring an additional 810 shares during the period. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

NYSE:K opened at $80.58 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a 50-day moving average of $80.82 and a 200-day moving average of $72.57. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34. The company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the transaction, the insider now owns 50,253,689 shares in the company, valued at approximately $4,054,467,628.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 1,145,830 shares of company stock worth $92,568,168 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on K. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. StockNews.com assumed coverage on Kellanova in a report on Saturday. They issued a “hold” rating on the stock. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.35.

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.