Kellogg W K Foundation Trust Has $3.66 Billion Stock Holdings in Kellanova $K

Kellogg W K Foundation Trust reduced its holdings in Kellanova (NYSE:K) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,014,118 shares of the company’s stock after selling 1,374,996 shares during the quarter. Kellanova makes up approximately 94.4% of Kellogg W K Foundation Trust’s holdings, making the stock its largest holding. Kellogg W K Foundation Trust owned about 0.13% of Kellanova worth $3,659,503,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Financial Network Wealth Advisors LLC acquired a new position in Kellanova in the first quarter worth $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova during the 1st quarter worth about $27,000. Trust Co. of Toledo NA OH bought a new stake in Kellanova during the 2nd quarter worth about $45,000. EQ Wealth Advisors LLC bought a new stake in Kellanova during the 1st quarter worth about $49,000. Finally, Dagco Inc. acquired a new stake in Kellanova in the 1st quarter valued at about $49,000. Institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 458,348 shares of company stock worth $36,597,937 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on K shares. Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective on the stock. Finally, Wall Street Zen lowered Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $83.38.

Kellanova Trading Down 0.0%

K opened at $83.05 on Tuesday. The firm has a 50 day simple moving average of $80.31 and a 200 day simple moving average of $80.80. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.22. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45.

Kellanova (NYSE:K) last released its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. On average, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova’s payout ratio is currently 60.89%.

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.