Janus Henderson Group PLC Has $15.83 Million Stake in Kellanova (NYSE:K)

Janus Henderson Group PLC raised its position in Kellanova (NYSE:K - Free Report) by 91.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,185 shares of the company's stock after buying an additional 93,586 shares during the period. Janus Henderson Group PLC owned approximately 0.06% of Kellanova worth $15,833,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in K. Blue Trust Inc. raised its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova in the 2nd quarter worth about $29,000. CVA Family Office LLC raised its stake in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Finally, MCF Advisors LLC grew its stake in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

K traded down $0.03 during trading hours on Friday, hitting $80.74. The company's stock had a trading volume of 1,187,405 shares, compared to its average volume of 1,813,119. The company has a 50-day simple moving average of $80.82 and a 200 day simple moving average of $72.04. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.34. 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 firm has a market capitalization of $27.83 billion, a PE ratio of 27.75, a PEG ratio of 2.58 and a beta of 0.38.

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 analysts' consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the previous year, the company earned $1.03 earnings per share. Kellanova's revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts expect that Kellanova will post 3.75 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's dividend payout ratio is currently 78.35%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares of the company's stock, valued at $4,062,201,136.80. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 1,145,830 shares of company stock worth $92,516,606. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on K shares. Wells Fargo & Company increased their target price on Kellanova from $76.00 to $83.50 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. Barclays raised their price objective on Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 15th. Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Finally, StockNews.com began coverage on shares of Kellanova in a research report on Friday. They set a "hold" rating for the company. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and an average price target of $76.35.

Kellanova 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.