Vestcor Inc Acquires 30,941 Shares of Kellanova (NYSE:K)

Vestcor Inc increased its holdings in Kellanova (NYSE:K) by 21.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,962 shares of the company’s stock after buying an additional 30,941 shares during the period. Vestcor Inc owned 0.05% of Kellanova worth $13,960,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Barclays PLC boosted its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the period. Anson Funds Management LP bought a new position in shares of Kellanova in the third quarter valued at approximately $1,614,000. XTX Topco Ltd bought a new position in shares of Kellanova in the third quarter valued at approximately $475,000. National Bank of Canada FI grew its stake in Kellanova by 69.2% during the third quarter. National Bank of Canada FI now owns 157,204 shares of the company’s stock valued at $12,688,000 after acquiring an additional 64,293 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Kellanova by 65.1% during the 3rd quarter. Wellington Management Group LLP now owns 19,847 shares of the company’s stock worth $1,602,000 after acquiring an additional 7,829 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $80.68, for a total value of $9,244,556.44. Following the sale, the insider now directly owns 50,253,689 shares in the company, valued at approximately $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,145,830 shares of company stock worth $92,568,168. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

K has been the subject of a number of recent analyst reports. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. StockNews.com initiated coverage on shares of Kellanova in a research report on Friday. They issued a “hold” rating on the stock. Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Trading Down 0.2 %

Shares of K stock opened at $80.59 on Tuesday. The business has a 50-day moving average of $80.82 and a 200 day moving average of $72.18. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The stock has a market capitalization of $27.78 billion, a PE ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

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.