Intech Investment Management LLC Has $11.91 Million Stock Position in Kellanova (NYSE:K)

Intech Investment Management LLC decreased its holdings in Kellanova (NYSE:K) by 21.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 207,805 shares of the company’s stock after selling 56,075 shares during the period. Intech Investment Management LLC’s holdings in Kellanova were worth $11,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after buying an additional 1,130,582 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after purchasing an additional 98,294 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after acquiring an additional 655,686 shares in the last quarter. Norges Bank acquired a new stake in Kellanova in the 4th quarter valued at $150,184,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Kellanova by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after acquiring an additional 9,726 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the transaction, the insider now owns 51,064,238 shares in the company, valued at $2,869,299,533.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.19, for a total value of $4,371,582.00. Following the sale, the insider now directly owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,600 shares of company stock worth $50,904,084. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of K traded down $0.87 during trading hours on Friday, reaching $57.96. 1,613,574 shares of the company’s stock traded hands, compared to its average volume of 1,762,344. The firm’s 50 day simple moving average is $58.95 and its 200-day simple moving average is $57.07. The stock has a market cap of $19.82 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.06 and a beta of 0.34. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.23. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34.

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

Kellanova Announces Dividend

The company also recently disclosed 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 3.86%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. DA Davidson upped their price objective on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Barclays decreased their price target on Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Friday. TD Cowen boosted their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Bank of America cut their price target on shares of Kellanova from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average price target of $61.62.

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.