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

Toronto Dominion Bank raised its stake in Kellanova (NYSE:K) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,845 shares of the company’s stock after acquiring an additional 8,686 shares during the period. Toronto Dominion Bank owned 0.05% of Kellanova worth $14,435,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Swedbank AB lifted its position in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares during the last quarter. Barclays PLC boosted its position in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Kellanova in the 3rd quarter worth approximately $4,211,000. Finally, Impax Asset Management Group plc acquired a new stake in Kellanova in the 3rd quarter valued at approximately $4,991,000. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 1,145,830 shares of company stock worth $92,568,168. 1.80% of the stock is owned by corporate insiders.

Kellanova Trading Down 0.2 %

Shares of K opened at $80.58 on Friday. The business’s 50-day moving average price is $80.82 and its 200 day moving average price is $72.57. 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 stock has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34.

Kellanova (NYSE:K) last released its earnings results 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. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

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

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.