Commerzbank Aktiengesellschaft FI Purchases Shares of 4,572 Kellanova (NYSE:K)

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Kellanova (NYSE:K) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,572 shares of the company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Kellanova by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock valued at $330,841,000 after acquiring an additional 200,870 shares in the last quarter. Invesco Ltd. lifted its position in shares of Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after purchasing an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after purchasing an additional 1,051,922 shares during the last quarter. Northern Trust Corp grew its position in Kellanova by 8.7% in the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after purchasing an additional 328,658 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Kellanova by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company’s stock valued at $147,273,000 after buying an additional 61,797 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on K shares. Stifel Nicolaus upped their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective for the company. Barclays boosted their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Citigroup initiated coverage on shares of Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. Finally, StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.27.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the sale, the insider now directly owns 52,698,038 shares of the company’s stock, valued at approximately $2,825,668,797.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 933,600 shares of company stock worth $51,632,748. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $57.98 on Tuesday. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The stock has a market cap of $19.82 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.14 and a beta of 0.40. The company has a 50 day moving average of $55.68 and a 200 day moving average of $54.10.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

About Kellanova

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.