Kellanova (NYSE:K) Stake Lifted by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Kellanova (NYSE:K) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,608 shares of the company’s stock after purchasing an additional 10,639 shares during the period. Kellanova accounts for about 1.0% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 24th largest holding. OVERSEA CHINESE BANKING Corp Ltd owned 0.13% of Kellanova worth $36,691,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of K. CVA Family Office LLC raised its position in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. MCF Advisors LLC increased its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Blue Trust Inc. raised its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova during the 2nd quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during 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 Kellanova stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the transaction, the insider now directly owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the transaction, the insider now owns 50,675,238 shares in the company, valued at $4,070,235,116.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,150,064 shares of company stock worth $92,680,265 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $81.10 on Tuesday. The stock has a market capitalization of $27.96 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The company’s 50-day moving average is $80.65 and its 200-day moving average is $69.19. 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 $51.02 and a 1 year high of $81.26.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on K shares. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Barclays lifted their target price on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Stifel Nicolaus raised their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $76.35.

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.