National Bank of Canada FI Purchases 64,293 Shares of Kellanova (NYSE:K)

National Bank of Canada FI increased its holdings in shares of Kellanova (NYSE:K - Free Report) by 69.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 157,204 shares of the company's stock after buying an additional 64,293 shares during the quarter. National Bank of Canada FI's holdings in Kellanova were worth $12,688,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of K. Swedbank AB increased its holdings in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company's stock worth $22,076,000 after buying an additional 46,450 shares in the last quarter. Principal Financial Group Inc. grew its position in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock worth $30,169,000 after acquiring an additional 24,067 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova in the 3rd quarter worth about $4,211,000. Impax Asset Management Group plc bought a new position in Kellanova in the third quarter valued at about $4,991,000. Finally, Lombard Odier Asset Management Europe Ltd boosted its stake in shares of Kellanova by 227.9% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,018 shares of the company's stock valued at $2,827,000 after purchasing an additional 34,069 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on K. StockNews.com initiated coverage on Kellanova in a report on Friday, December 6th. They set a "hold" rating on the stock. Wells Fargo & Company increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a research report on Thursday, August 15th. Barclays raised their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. Royal Bank of Canada cut shares of Kellanova from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $76.35.

Kellanova Stock Performance

K stock traded down $0.02 during mid-day trading on Wednesday, hitting $80.68. The company had a trading volume of 1,648,020 shares, compared to its average volume of 2,947,578. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34. The stock's fifty day moving average price is $80.82 and its two-hundred day moving average price is $72.31. The firm has a market cap of $27.81 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. On average, analysts forecast that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the transaction, the insider now directly owns 50,253,689 shares of the company's stock, valued at $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 1,145,830 shares of company stock valued at $92,568,168. Corporate insiders own 1.80% of the company's stock.

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.