Erste Asset Management GmbH Takes Position in Kellanova (NYSE:K)

Erste Asset Management GmbH bought a new position in shares of Kellanova (NYSE:K - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 97,350 shares of the company's stock, valued at approximately $7,864,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investors Research Corp grew its stake in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company's stock valued at $1,049,000 after purchasing an additional 125 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock valued at $51,000 after buying an additional 131 shares during the period. MCF Advisors LLC lifted its holdings in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after buying an additional 137 shares during the period. S.A. Mason LLC lifted its holdings in shares of Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock valued at $160,000 after buying an additional 140 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock valued at $44,000 after buying an additional 158 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on K. StockNews.com began coverage on Kellanova in a report on Thursday. They issued a "hold" rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a report on Thursday, August 15th. Barclays upped their price target on Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. DA Davidson cut Kellanova from a "buy" rating to a "neutral" rating and upped their price target for the stock from $80.00 to $83.50 in a 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 for the company. in a 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $76.35.

Kellanova Price Performance

Shares of K stock traded down $0.13 during trading hours on Monday, reaching $80.59. The company had a trading volume of 951,799 shares, compared to its average volume of 2,984,134. 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 stock has a fifty day moving average of $80.82 and a 200-day moving average of $71.39. The company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 2.61 and a beta of 0.39. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34.

Kellanova (NYSE:K - Get Free Report) last issued 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 company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. On average, equities analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

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

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,145,830 shares of company stock worth $92,516,606 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

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.