OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Kellanova (NYSE:K - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,608 shares of the company's stock after purchasing an additional 10,639 shares during the quarter. Kellanova makes up about 1.0% of OVERSEA CHINESE BANKING Corp Ltd's portfolio, making the stock its 24th biggest holding. OVERSEA CHINESE BANKING Corp Ltd owned 0.13% of Kellanova worth $36,691,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in K. Blue Trust Inc. increased its holdings in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter worth $29,000. CVA Family Office LLC increased its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after acquiring an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings 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 buying an additional 200 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after buying an additional 137 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company's stock, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company's stock, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the sale, the insider now directly owns 50,675,238 shares of the company's stock, valued at approximately $4,070,235,116.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is currently owned by company insiders.
Kellanova Stock Up 0.0 %
Shares of K stock traded up $0.01 during trading hours on Tuesday, reaching $81.11. 401,574 shares of the stock were exchanged, compared to its average volume of 3,044,476. The business's fifty day moving average is $80.66 and its two-hundred day moving average is $69.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.26. The firm has a market capitalization of $27.96 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.60 and a beta of 0.39.
Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. As a group, research analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.
Kellanova Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's payout ratio is currently 78.35%.
Wall Street Analysts Forecast Growth
K has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a report on Tuesday. They set a "hold" rating for the company. Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and boosted their price target for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a research report on Monday, August 12th. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $76.35.
Read Our Latest Analysis on K
Kellanova Profile
(
Free Report)
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.
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