State Street Corp Buys 731,273 Shares of Kellanova (NYSE:K)

State Street Corp grew its holdings in shares of Kellanova (NYSE:K - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,725,420 shares of the company's stock after acquiring an additional 731,273 shares during the quarter. State Street Corp owned 4.27% of Kellanova worth $1,188,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swedbank AB lifted its holdings in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company's stock worth $22,076,000 after buying an additional 46,450 shares during the period. Principal Financial Group Inc. increased its position in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock valued at $30,169,000 after purchasing an additional 24,067 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova in the third quarter valued at $4,211,000. Impax Asset Management Group plc bought a new stake in Kellanova during the third quarter valued at $4,991,000. Finally, Lombard Odier Asset Management Europe Ltd grew its stake in Kellanova by 227.9% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,018 shares of the company's stock worth $2,827,000 after purchasing an additional 34,069 shares during the period. Institutional investors own 83.87% of the company's stock.

Kellanova Price Performance

Shares of NYSE K traded down $0.03 during midday trading on Friday, hitting $80.74. 1,187,405 shares of the company's stock were exchanged, compared to its average volume of 1,813,119. The business's fifty day moving average price is $80.82 and its two-hundred day moving average price is $71.97. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.58 and a beta of 0.38. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. As a group, research analysts forecast that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business 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 $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova's dividend payout ratio (DPR) is currently 78.35%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, August 12th. StockNews.com started coverage on Kellanova in a research report on Friday. They issued a "hold" rating for the company. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. DA Davidson downgraded shares of Kellanova from a "buy" rating to a "neutral" rating and increased their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Finally, The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They set a "neutral" rating and a $75.00 price target on the stock. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Kellanova has a consensus rating of "Hold" and a consensus price target of $76.35.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Monday, September 16th. The stock was 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 owns 50,368,272 shares of the company's stock, valued at $4,062,201,136.80. 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 through this link. Over the last 90 days, insiders sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is currently 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.