Kellanova (NYSE:K) Position Boosted by Moody National Bank Trust Division

Moody National Bank Trust Division raised its holdings in shares of Kellanova (NYSE:K) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,161 shares of the company’s stock after acquiring an additional 320 shares during the period. Moody National Bank Trust Division’s holdings in Kellanova were worth $296,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its holdings in shares of Kellanova by 10.1% in the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after acquiring an additional 24,124 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Kellanova during the 4th quarter valued at $8,178,000. International Assets Investment Management LLC raised its stake in shares of Kellanova by 133.4% in the 4th quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock worth $3,404,000 after buying an additional 34,800 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Kellanova in the fourth quarter valued at $889,000. Finally, Comerica Bank acquired a new stake in shares of Kellanova in the third quarter valued at $4,974,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In other news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $57.89, for a total value of $4,503,842.00. Following the completion of the sale, the insider now directly owns 51,375,438 shares of the company’s stock, valued at $2,974,124,105.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 865,600 shares of company stock worth $50,754,708. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Up 1.2 %

Shares of NYSE:K traded up $0.68 during trading on Wednesday, reaching $58.80. 1,852,384 shares of the company traded hands, compared to its average volume of 2,098,715. The firm has a fifty day simple moving average of $59.44 and a 200 day simple moving average of $56.64. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. Kellanova has a 1-year low of $47.63 and a 1-year high of $68.69. The firm has a market cap of $20.10 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.06 and a beta of 0.35.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts anticipate that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio is 83.90%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. TD Cowen increased their target price on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, DA Davidson increased their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.85.

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.