Investors Research Corp Grows Stake in Kellanova (NYSE:K)

Investors Research Corp raised its stake in shares of Kellanova (NYSE:K) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,991 shares of the company’s stock after purchasing an additional 125 shares during the period. Investors Research Corp’s holdings in Kellanova were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of K. Charles Schwab Investment Management Inc. increased its holdings in shares of Kellanova by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after buying an additional 35,268 shares during the last quarter. Integrated Investment Consultants LLC bought a new stake in Kellanova during the third quarter worth approximately $950,000. Grandfield & Dodd LLC purchased a new stake in Kellanova during the third quarter valued at approximately $225,000. Advisors Asset Management Inc. lifted its stake in shares of Kellanova by 6.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 31,551 shares of the company’s stock valued at $2,546,000 after purchasing an additional 1,984 shares during the last quarter. Finally, Factorial Partners LLC boosted its holdings in shares of Kellanova by 8.2% in the 3rd quarter. Factorial Partners LLC now owns 22,500 shares of the company’s stock worth $1,816,000 after purchasing an additional 1,700 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 994,464 shares of company stock worth $80,203,479. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group started coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price for the company. StockNews.com began coverage on shares of Kellanova in a research note on Wednesday. They issued a “hold” rating for the company. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

K traded up $0.02 on Thursday, reaching $80.80. 58,621 shares of the company’s stock were exchanged, compared to its average volume of 3,011,592. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock’s fifty day moving average price is $80.75 and its 200-day moving average price is $70.43. The stock has a market cap of $27.85 billion, a PE ratio of 27.76, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. Sell-side analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

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.