Swedbank AB grew its position in shares of Kellanova (NYSE:K – Free Report) by 20.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,521 shares of the company’s stock after purchasing an additional 46,450 shares during the quarter. Swedbank AB owned approximately 0.08% of Kellanova worth $22,076,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in K. Blue Trust Inc. increased its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. bought a new stake in shares of Kellanova in the 2nd quarter valued at about $29,000. CVA Family Office LLC increased its stake in shares of 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 buying an additional 307 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.
Insider Transactions 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 shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 1,109,047 shares of company stock valued at $89,483,556 over the last ninety days. 1.80% of the stock is currently owned by insiders.
Kellanova Price Performance
Kellanova (NYSE:K – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. Sell-side analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.
Kellanova Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. StockNews.com assumed coverage on Kellanova in a research report on Wednesday, November 20th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. 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, the company presently has an average rating of “Hold” and a consensus price target of $76.35.
Check Out Our Latest Stock Report on K
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.
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