Kellanova (NYSE:K) Stake Boosted by Versant Capital Management Inc

Versant Capital Management Inc increased its position in shares of Kellanova (NYSE:K) by 2,869.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 772 shares of the company’s stock after acquiring an additional 746 shares during the period. Versant Capital Management Inc’s holdings in Kellanova were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Kellanova by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after acquiring an additional 98,294 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of Kellanova by 15.5% during the 4th 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 position in shares of Kellanova during the 4th quarter valued at about $150,184,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kellanova by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock valued at $124,893,000 after acquiring an additional 9,726 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.01, for a total value of $4,824,378.00. Following the completion of the transaction, the insider now owns 51,608,838 shares of the company’s stock, valued at $3,200,264,044.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 778,000 shares of company stock valued at $45,509,110 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

K has been the topic of several research analyst reports. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Monday. Piper Sandler boosted their price objective on Kellanova from $60.00 to $63.00 and gave the stock a “neutral” rating 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. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $70.00 in a research report on Friday. Finally, DA Davidson boosted their price objective on Kellanova from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.93.

Kellanova Price Performance

Shares of K stock traded up $0.13 during trading hours on Tuesday, reaching $73.33. 7,775,454 shares of the company were exchanged, compared to its average volume of 2,930,295. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $75.40. The stock’s fifty day moving average is $58.50 and its two-hundred day moving average is $57.39. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.41.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. Sell-side analysts forecast that Kellanova will post 3.68 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 3.11%. Kellanova’s dividend payout ratio is currently 85.39%.

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.