Banque Cantonale Vaudoise Boosts Stock Holdings in Kellanova (NYSE:K)

Banque Cantonale Vaudoise lifted its holdings in Kellanova (NYSE:K) by 35.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 79,701 shares of the company’s stock after purchasing an additional 20,866 shares during the period. Banque Cantonale Vaudoise’s holdings in Kellanova were worth $4,566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its holdings in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the period. Motco grew its stake in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. raised its holdings in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after buying an additional 428 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Kellanova in the 4th quarter valued at about $42,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $57.89, for a total transaction of $4,503,842.00. Following the completion of the transaction, the insider now directly owns 51,375,438 shares of the company’s stock, valued at approximately $2,974,124,105.82. The sale was disclosed in a filing with the SEC, which is available at this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction that occurred 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 directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $57.89, for a total value of $4,503,842.00. Following the completion of the transaction, the insider now owns 51,375,438 shares in the company, valued at approximately $2,974,124,105.82. The disclosure for this sale can be found here. Insiders have sold 787,800 shares of company stock worth $46,428,250 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kellanova Stock Performance

NYSE K traded up $0.06 on Friday, reaching $57.78. 552,418 shares of the company’s stock traded hands, compared to its average volume of 2,960,709. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $68.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.09 and a beta of 0.35. The stock has a 50 day moving average price of $59.51 and a 200-day moving average price of $56.66.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the company earned $1.10 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Equities research analysts predict that Kellanova will post 3.61 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s payout ratio is currently 83.90%.

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.