Toronto Dominion Bank Increases Holdings in Kellanova (NYSE:K)

Toronto Dominion Bank grew its position in shares of Kellanova (NYSE:K - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,845 shares of the company's stock after purchasing an additional 8,686 shares during the period. Toronto Dominion Bank owned about 0.05% of Kellanova worth $14,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Swedbank AB raised its position in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company's stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock worth $30,169,000 after buying an additional 24,067 shares during the period. Barclays PLC lifted its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Kellanova during the 3rd quarter valued at about $4,211,000. Finally, Impax Asset Management Group plc bought a new position in Kellanova during the 3rd quarter worth approximately $4,991,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.2 %

Shares of NYSE K traded down $0.15 on Friday, reaching $80.56. 2,632,314 shares of the company's stock traded hands, compared to its average volume of 2,939,740. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business's 50 day simple moving average is $80.82 and its two-hundred day simple moving average is $72.65. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data 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. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the company earned $1.03 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is 78.35%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on K. StockNews.com initiated coverage on Kellanova in a research report on Saturday. They issued a "hold" rating for the company. DA Davidson lowered shares of Kellanova from a "buy" rating to a "neutral" rating and upped their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Finally, BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has an average rating of "Hold" and a consensus target price of $76.35.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the sale, the insider now directly owns 50,253,689 shares in the company, valued at approximately $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 1,145,830 shares of company stock valued at $92,568,168. 1.80% of the stock is owned by insiders.

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.