Impax Asset Management Group plc Acquires Shares of 61,842 Kellanova (NYSE:K)

Impax Asset Management Group plc purchased a new stake in Kellanova (NYSE:K) in the third quarter, Holdings Channel reports. The firm purchased 61,842 shares of the company’s stock, valued at approximately $4,991,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of K. ING Groep NV grew its holdings in Kellanova by 22.3% during the 3rd quarter. ING Groep NV now owns 107,100 shares of the company’s stock worth $8,644,000 after acquiring an additional 19,540 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Kellanova by 1,079.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 120,842 shares of the company’s stock valued at $9,753,000 after purchasing an additional 110,596 shares during the last quarter. Kovack Advisors Inc. raised its position in Kellanova by 18.2% in the 3rd quarter. Kovack Advisors Inc. now owns 6,325 shares of the company’s stock valued at $511,000 after purchasing an additional 975 shares during the last quarter. Mengis Capital Management Inc. purchased a new stake in Kellanova in the 3rd quarter valued at $272,000. Finally, Simmons Bank purchased a new position in Kellanova during the 3rd quarter worth $219,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Price Performance

K opened at $80.58 on Friday. The company has a fifty day moving average price of $80.70 and a two-hundred day moving average price of $69.75. The firm has a market capitalization of $27.78 billion, a PE ratio of 27.69, a P/E/G ratio of 2.61 and a beta of 0.39. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS 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 period in the previous year, the firm posted $1.03 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s dividend payout ratio is presently 78.35%.

Wall Street Analysts Forecast Growth

K has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Wells Fargo & Company boosted their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, Piper Sandler upped their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.35.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. The trade was a 0.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,072,264 shares of company stock valued at $86,452,375 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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.