Kellanova (NYSE:K) Short Interest Update

Kellanova (NYSE:K) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 12,330,000 shares, an increase of 7.3% from the June 15th total of 11,490,000 shares. Based on an average daily trading volume, of 2,480,000 shares, the days-to-cover ratio is currently 5.0 days. Currently, 4.3% of the shares of the stock are sold short.

Kellanova Stock Down 0.2 %

K stock traded down $0.12 on Thursday, reaching $58.83. 1,617,784 shares of the company traded hands, compared to its average volume of 2,824,947. Kellanova has a one year low of $47.63 and a one year high of $68.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The company has a market cap of $20.11 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.02 and a beta of 0.34. The firm has a fifty day simple moving average of $59.08 and a 200-day simple moving average of $57.05.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts anticipate that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, June 3rd. Kellanova’s payout ratio is 83.90%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen increased their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Barclays raised their price target on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Bank of America reduced their price target on Kellanova from $64.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. DA Davidson raised their price target on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.85.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the completion of the transaction, the insider now directly owns 51,686,638 shares in the company, valued at $3,220,594,413.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a filing 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 stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total value of $4,847,718.00. Following the transaction, the insider now owns 51,686,638 shares in the company, valued at $3,220,594,413.78. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock worth $50,904,084 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

A number of institutional investors and hedge funds have recently modified their holdings of K. Norges Bank bought a new stake in shares of Kellanova in the 4th quarter worth $150,184,000. Vanguard Group Inc. increased its holdings in shares of Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares in the last quarter. Anchor Capital Advisors LLC bought a new stake in shares of Kellanova in the 4th quarter worth $38,939,000. Boston Partners grew its holdings in shares of Kellanova by 117.1% in the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after acquiring an additional 689,395 shares during the period. Finally, Beutel Goodman & Co Ltd. grew its holdings in shares of Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after acquiring an additional 655,686 shares during the period. Institutional investors own 83.87% 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.