Kellanova (NYSE:K) Shares Acquired by State Street Corp

State Street Corp boosted its holdings in shares of Kellanova (NYSE:K) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,725,420 shares of the company’s stock after acquiring an additional 731,273 shares during the period. State Street Corp owned 4.27% of Kellanova worth $1,188,489,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares during the period. Yacktman Asset Management LP lifted its holdings in Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after acquiring an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Kellanova by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after acquiring an additional 35,268 shares during the last quarter. Finally, Ilex Capital Partners UK LLP raised its position in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after purchasing an additional 632,510 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Trading Down 0.0 %

NYSE K opened at $80.74 on Friday. The firm’s fifty day moving average price is $80.82 and its 200 day moving average price is $71.97. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.58 and a beta of 0.38.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping 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 business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,145,830 shares of company stock valued at $92,516,606 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

K has been the subject of several research reports. Piper Sandler lifted their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Stifel Nicolaus upped their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com started coverage on Kellanova in a research report on Friday. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group began coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price for the company. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.35.

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.