KBC Group NV Raises Stock Position in Kellanova (NYSE:K)

KBC Group NV increased its holdings in shares of Kellanova (NYSE:K) by 29.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,037 shares of the company’s stock after purchasing an additional 15,803 shares during the period. KBC Group NV’s holdings in Kellanova were worth $5,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Kellanova by 821.7% during the fourth quarter. Blue Trust Inc. now owns 4,028 shares of the company’s stock valued at $325,000 after purchasing an additional 3,591 shares during the period. Fifth Third Bancorp increased its stake in Kellanova by 1.9% during the 4th quarter. Fifth Third Bancorp now owns 18,060 shares of the company’s stock worth $1,462,000 after buying an additional 340 shares during the period. McGlone Suttner Wealth Management Inc. lifted its holdings in Kellanova by 7.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,862 shares of the company’s stock worth $232,000 after buying an additional 199 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Kellanova by 1.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,486 shares of the company’s stock valued at $1,902,000 after buying an additional 367 shares during the last quarter. Finally, Advisory Alpha LLC grew its stake in shares of Kellanova by 14.9% during the fourth quarter. Advisory Alpha LLC now owns 3,222 shares of the company’s stock valued at $261,000 after acquiring an additional 417 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Up 0.2 %

NYSE K opened at $81.95 on Friday. 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 has a one year low of $52.46 and a one year high of $82.06. The company has a 50-day simple moving average of $81.11 and a 200-day simple moving average of $78.10. The firm has a market capitalization of $28.25 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. On average, equities analysts forecast that Kellanova will post 3.75 earnings per share for the current year.

Analyst Ratings Changes

K has been the topic of several recent analyst reports. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. StockNews.com assumed coverage on Kellanova in a research report on Friday. They issued a “hold” rating on the stock. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.35.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 1,031,247 shares of company stock worth $83,724,652 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

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.