Kellanova (NYSE:K) Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lifted its position in shares of Kellanova (NYSE:K) by 42.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,535 shares of the company’s stock after purchasing an additional 15,315 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Kellanova were worth $2,952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Kellanova during the fourth quarter worth about $150,184,000. Vanguard Group Inc. grew its holdings in shares of Kellanova by 3.6% during the fourth 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 last quarter. Anchor Capital Advisors LLC purchased a new position in shares of Kellanova during the fourth quarter worth about $38,939,000. Beutel Goodman & Co Ltd. grew its holdings in shares of Kellanova by 15.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after buying an additional 655,686 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Kellanova during the fourth quarter worth about $35,372,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $58.00, for a total value of $4,512,400.00. Following the sale, the insider now owns 51,842,238 shares in the company, valued at approximately $3,006,849,804. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $58.00, for a total value of $4,512,400.00. Following the transaction, the insider now owns 51,842,238 shares of the company’s stock, valued at $3,006,849,804. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 787,800 shares of company stock worth $46,410,356. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Kellanova Trading Down 0.6 %

K traded down $0.35 during trading on Monday, hitting $57.61. The company’s stock had a trading volume of 1,656,695 shares, compared to its average volume of 2,807,826. The firm’s 50 day moving average price is $58.95 and its 200-day moving average price is $57.07. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The stock has a market cap of $19.70 billion, a PE ratio of 21.68, a PEG ratio of 2.06 and a beta of 0.34. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.23.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company earned $1.10 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.89%. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Kellanova Company 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.