Impax Asset Management Group plc Takes Position in Kellanova (NYSE:K)

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

Several other institutional investors have also modified their holdings of K. Swedbank AB grew its position in shares of Kellanova by 20.5% in the third 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. CANADA LIFE ASSURANCE Co lifted its position in shares of Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company's stock valued at $14,705,000 after acquiring an additional 10,676 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company's stock valued at $15,049,000 after acquiring an additional 217,320 shares during the last quarter. M&G Plc purchased a new position in shares of Kellanova during the 1st quarter worth $9,346,000. Finally, Atria Investments Inc acquired a new stake in shares of Kellanova during the first quarter worth $1,003,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

K has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Royal Bank of Canada downgraded Kellanova from an "outperform" rating to a "sector perform" rating and upped their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Piper Sandler increased their target price on Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, Argus downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $76.35.

Kellanova Stock Down 0.3 %

NYSE:K traded down $0.28 on Friday, reaching $80.57. The stock had a trading volume of 3,846,286 shares, compared to its average volume of 3,040,291. The company has a 50-day moving average of $80.71 and a 200 day moving average of $69.82. 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 cap of $27.77 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. 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 2.83%. Kellanova's dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares of the company's stock, valued at $4,012,219,308.24. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 1,072,264 shares of company stock worth $86,452,375. 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.