ING Groep NV Grows Stock Holdings in Kellanova (NYSE:K)

ING Groep NV lifted its stake in shares of Kellanova (NYSE:K - Free Report) by 22.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,100 shares of the company's stock after purchasing an additional 19,540 shares during the quarter. ING Groep NV's holdings in Kellanova were worth $8,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in K. Sei Investments Co. grew its stake in Kellanova by 2.6% in the 1st quarter. Sei Investments Co. now owns 79,195 shares of the company's stock valued at $4,537,000 after purchasing an additional 1,984 shares during the period. State Board of Administration of Florida Retirement System increased its position in Kellanova by 7.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 311,719 shares of the company's stock worth $17,858,000 after buying an additional 20,995 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Kellanova by 19.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 365,290 shares of the company's stock valued at $20,927,000 after buying an additional 58,259 shares during the period. Blair William & Co. IL raised its stake in shares of Kellanova by 12.9% in the first quarter. Blair William & Co. IL now owns 30,175 shares of the company's stock valued at $1,729,000 after buying an additional 3,441 shares during the period. Finally, M&G Plc bought a new stake in shares of Kellanova in the first quarter valued at $9,346,000. Institutional investors own 83.87% of the company's stock.

Kellanova Price Performance

NYSE K traded down $0.28 on Friday, reaching $80.57. 3,846,286 shares of the company's stock traded hands, compared to its average volume of 3,040,291. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a 50-day simple moving average of $80.71 and a 200 day simple moving average of $69.82. The stock has a market cap of $27.77 billion, a PE ratio of 27.69, a P/E/G ratio of 2.61 and a beta of 0.39.

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

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 annualized dividend and a dividend yield of 2.83%. Kellanova's payout ratio is presently 78.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on K. Piper Sandler boosted their price objective on Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Royal Bank of Canada cut shares of Kellanova from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. StockNews.com assumed coverage on Kellanova in a research report on Tuesday. They set a "hold" rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on Kellanova from $66.00 to $69.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $76.35.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,072,264 shares of company stock valued at $86,452,375 over the last ninety days. 1.80% of the stock is owned by insiders.

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.