Swedbank AB Has $22.08 Million Stake in Kellanova (NYSE:K)

Swedbank AB raised its stake in shares of Kellanova (NYSE:K - Free Report) by 20.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,521 shares of the company's stock after purchasing an additional 46,450 shares during the period. Swedbank AB owned 0.08% of Kellanova worth $22,076,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its position in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company's stock valued at $108,532,000 after acquiring an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new stake in Kellanova in the 2nd quarter valued at $88,065,000. Point72 Asset Management L.P. acquired a new stake in Kellanova in the 2nd quarter worth $63,585,000. Boston Partners increased its holdings in shares of Kellanova by 117.1% during the 1st quarter. Boston Partners now owns 1,278,079 shares of the company's stock worth $73,221,000 after purchasing an additional 689,395 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Kellanova by 130.1% during the second quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company's stock valued at $62,122,000 after buying an additional 608,989 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Kellanova Price Performance

NYSE:K traded up $0.02 during mid-day trading on Tuesday, reaching $81.13. 1,123,273 shares of the company were exchanged, compared to its average volume of 3,008,971. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.97 billion, a PE ratio of 27.87, a PEG ratio of 2.61 and a beta of 0.39. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company has a fifty day moving average of $80.78 and a 200 day moving average of $70.85.

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. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the firm earned $1.03 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is currently 78.35%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the sale, the insider now owns 49,337,025 shares of the company's stock, valued at approximately $3,995,805,654.75. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,109,047 shares of company stock valued at $89,483,556 in the last 90 days. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. DA Davidson lowered Kellanova from a "buy" rating to a "neutral" rating and boosted their price target for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Stifel Nicolaus upped their target price on Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, August 12th. Evercore ISI upgraded shares of Kellanova to a "hold" rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada lowered shares of Kellanova from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Fifteen 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 company presently has an average rating of "Hold" and an average target price of $76.35.

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.