Impax Asset Management Group plc Makes New Investment in Kellanova (NYSE:K)

Impax Asset Management Group plc purchased a new stake in Kellanova (NYSE:K - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 61,842 shares of the company's stock, valued at approximately $4,991,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its stake in Kellanova by 3.5% during the third quarter. Asset Management One Co. Ltd. now owns 224,781 shares of the company's stock worth $18,142,000 after purchasing an additional 7,552 shares during the last quarter. National Pension Service lifted its stake in Kellanova by 0.9% during the third quarter. National Pension Service now owns 522,848 shares of the company's stock worth $42,199,000 after purchasing an additional 4,550 shares during the last quarter. Cortland Associates Inc. MO bought a new stake in Kellanova during the third quarter worth $215,000. Forum Financial Management LP bought a new stake in Kellanova during the third quarter worth $263,000. Finally, BSW Wealth Partners bought a new stake in Kellanova during the third quarter worth $267,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares of the company's stock, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. 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, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred 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 transaction, the insider now owns 50,368,272 shares of the company's stock, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Up 0.1 %

Shares of K stock traded up $0.08 on Wednesday, reaching $80.94. 3,799,561 shares of the company were exchanged, compared to its average volume of 3,074,672. The company has a market cap of $27.90 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.56 and a beta of 0.39. The company has a 50-day moving average of $80.64 and a 200-day moving average of $68.70. 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 has a one year low of $50.81 and a one year high of $81.26.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analysts' expectations 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 firm earned $1.03 EPS. Analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova's dividend payout ratio (DPR) is presently 78.35%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on K shares. The Goldman Sachs Group started coverage on Kellanova in a research note on Monday, August 12th. They set a "neutral" rating and a $75.00 target price for the company. Evercore ISI upgraded Kellanova to a "hold" rating in a report on Friday, August 2nd. DA Davidson downgraded Kellanova from a "buy" rating to a "neutral" rating and increased their price objective for the company from $80.00 to $83.50 in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on Kellanova from $76.00 to $83.50 and gave the company a "hold" rating in a report on Thursday, August 15th. Finally, Barclays increased their price objective on Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Sixteen investment 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 currently has a consensus rating of "Hold" and a consensus target price of $74.96.

About Kellanova

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.