Kellanova (NYSE:K) Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Kellanova (NYSE:K - Free Report) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 373,792 shares of the company's stock after acquiring an additional 24,067 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Kellanova worth $30,169,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in K. SG Americas Securities LLC lifted its stake in Kellanova by 29.9% in the first quarter. SG Americas Securities LLC now owns 43,581 shares of the company's stock worth $2,497,000 after acquiring an additional 10,022 shares during the last quarter. Sei Investments Co. raised its holdings in Kellanova by 2.6% during the first quarter. Sei Investments Co. now owns 79,195 shares of the company's stock worth $4,537,000 after purchasing an additional 1,984 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Kellanova by 16.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 593,241 shares of the company's stock worth $33,987,000 after purchasing an additional 85,748 shares in the last quarter. TD Asset Management Inc raised its holdings in Kellanova by 8.3% during the first quarter. TD Asset Management Inc now owns 1,350,790 shares of the company's stock worth $77,387,000 after purchasing an additional 103,517 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Kellanova by 7.2% during 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 purchasing an additional 20,995 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on K shares. Royal Bank of Canada cut shares of Kellanova from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Barclays lifted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a research report on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a "neutral" rating and a $75.00 price objective on the stock. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI upgraded shares of Kellanova to a "hold" rating in a research report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and an average price target of $76.35.

Kellanova Stock Up 0.2 %

NYSE K traded up $0.14 on Wednesday, reaching $81.17. The company had a trading volume of 418,235 shares, compared to its average volume of 3,036,081. The firm has a market capitalization of $27.98 billion, a PE ratio of 27.89, a P/E/G ratio of 2.60 and a beta of 0.39. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The firm has a 50-day moving average of $80.67 and a 200-day moving average of $69.50. 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 (NYSE:K - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. On average, equities research analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. 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 dividend payout ratio is currently 78.35%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the sale, the insider now directly owns 50,597,438 shares of the company's stock, valued at $4,079,165,451.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares of the company's stock, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,072,264 shares of company stock valued at $86,452,375. Corporate insiders own 1.80% of the company's stock.

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.