M&G Plc Purchases 10,788 Shares of Kellanova (NYSE:K)

M&G PLC raised its holdings in shares of Kellanova (NYSE:K - Free Report) by 20.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,841 shares of the company's stock after purchasing an additional 10,788 shares during the period. M&G PLC's holdings in Kellanova were worth $5,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of K. Greenwood Capital Associates LLC bought a new stake in shares of Kellanova in the 3rd quarter worth approximately $1,457,000. Impax Asset Management Group plc acquired a new position in shares of Kellanova during the third quarter valued at $4,991,000. Asset Management One Co. Ltd. grew its position in shares of Kellanova by 3.5% during the third quarter. Asset Management One Co. Ltd. now owns 224,781 shares of the company's stock worth $18,142,000 after acquiring an additional 7,552 shares during the last quarter. National Pension Service increased its holdings in shares of Kellanova by 0.9% in the 3rd quarter. National Pension Service now owns 522,848 shares of the company's stock worth $42,199,000 after acquiring an additional 4,550 shares during the period. Finally, Cortland Associates Inc. MO bought a new stake in Kellanova in the 3rd quarter valued at about $215,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

K has been the subject of a number of research analyst reports. Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and upped their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Royal Bank of Canada lowered Kellanova from an "outperform" rating to a "sector perform" rating and increased their price target for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Piper Sandler boosted their price objective on Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on Kellanova from $76.00 to $83.50 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, Evercore ISI raised Kellanova to a "hold" rating in a report on Friday, August 2nd. Sixteen equities 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, the stock presently has a consensus rating of "Hold" and an average target price of $74.96.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares of the company's stock, valued at $4,079,165,451.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,150,064 shares of company stock worth $92,680,265 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

Kellanova Stock Performance

Kellanova stock traded up $0.34 during trading hours on Friday, reaching $81.00. 1,241,579 shares of the company were exchanged, compared to its average volume of 1,929,965. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.26. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average of $80.65 and a 200 day moving average of $69.03. The firm has a market cap of $27.92 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 7.85% and a return on equity of 37.05%. The business's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. As a group, research analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

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 issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio is currently 78.35%.

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.