Charles Schwab Investment Management Inc. Increases Holdings in Kellanova (NYSE:K)

Charles Schwab Investment Management Inc. raised its position in Kellanova (NYSE:K - Free Report) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,630,609 shares of the company's stock after purchasing an additional 35,268 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.47% of Kellanova worth $131,606,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Integrated Investment Consultants LLC bought a new position in shares of Kellanova during the third quarter valued at $950,000. Grandfield & Dodd LLC acquired a new position in Kellanova during the 3rd quarter worth about $225,000. Advisors Asset Management Inc. lifted its holdings in Kellanova by 6.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 31,551 shares of the company's stock worth $2,546,000 after buying an additional 1,984 shares during the period. Factorial Partners LLC grew its position in shares of Kellanova by 8.2% in the 3rd quarter. Factorial Partners LLC now owns 22,500 shares of the company's stock valued at $1,816,000 after buying an additional 1,700 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new stake in shares of Kellanova in the third quarter valued at about $25,561,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,109,047 shares of company stock worth $89,483,556 over the last ninety days. Company insiders own 1.80% of the company's stock.

Kellanova Stock Performance

NYSE:K traded up $0.02 during trading hours on Tuesday, reaching $81.13. The stock had a trading volume of 1,123,354 shares, compared to its average volume of 3,008,972. The stock has a market cap of $27.97 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The stock has a 50 day simple moving average of $80.79 and a 200 day simple moving average of $70.99. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $1.03 earnings per share. On average, research analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced 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 payout ratio is presently 78.35%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Evercore ISI upgraded shares of Kellanova to a "hold" rating in a report on Friday, August 2nd. Stifel Nicolaus raised their target price on Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a research note on Monday, August 12th. The Goldman Sachs Group initiated coverage on Kellanova in a report on Monday, August 12th. They issued a "neutral" rating and a $75.00 target price for the company. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Fifteen equities research 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.com, the stock 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.