Kellanova (NYSE:K) is Kellogg W K Foundation Trust's Largest Position

Kellogg W K Foundation Trust trimmed its stake in Kellanova (NYSE:K - Free Report) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,139,106 shares of the company's stock after selling 1,080,732 shares during the quarter. Kellanova accounts for 94.6% of Kellogg W K Foundation Trust's portfolio, making the stock its largest position. Kellogg W K Foundation Trust owned about 14.55% of Kellanova worth $4,046,727,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of K. Dimensional Fund Advisors LP raised its stake in shares of Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company's stock valued at $150,909,000 after purchasing an additional 277,171 shares in the last quarter. Yacktman Asset Management LP increased its stake in shares of Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company's stock valued at $123,546,000 after buying an additional 10,510 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company's stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. bought a new position in Kellanova in the second quarter valued at approximately $88,065,000. Finally, TD Asset Management Inc grew its stake in shares of Kellanova by 3.0% during the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company's stock worth $80,244,000 after purchasing an additional 40,406 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on K shares. DA Davidson cut Kellanova from a "buy" rating to a "neutral" rating and increased their price target for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Wells Fargo & Company lifted their price target on Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and upped their price target for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lowered shares of Kellanova from an "outperform" rating to a "sector perform" rating and increased their target price for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Sixteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $74.96.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares of the company's stock, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the transaction, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the sale, the insider now owns 50,753,038 shares of the company's stock, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,150,064 shares of company stock worth $92,680,265. 1.80% of the stock is owned by corporate insiders.

Kellanova Price Performance

K stock traded down $0.29 during mid-day trading on Thursday, hitting $80.65. The company had a trading volume of 2,632,011 shares, compared to its average volume of 3,072,625. The company has a 50-day moving average price of $80.64 and a 200 day moving average price of $68.87. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.26. The company has a market capitalization of $27.80 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The firm 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 company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. On average, research analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova's payout ratio is 78.35%.

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.