Swiss National Bank Sells 27,400 Shares of Kellanova (NYSE:K)

Swiss National Bank decreased its holdings in Kellanova (NYSE:K) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 854,700 shares of the company’s stock after selling 27,400 shares during the period. Swiss National Bank owned about 0.25% of Kellanova worth $47,786,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of K. Oakworth Capital Inc. grew its position in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares during the period. Baker Avenue Asset Management LP grew its holdings in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after acquiring an additional 341 shares during the period. Blue Trust Inc. increased its position in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after acquiring an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Kellanova by 339.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after acquiring an additional 928 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd boosted its position in Kellanova by 1,450.0% in the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock worth $92,000 after purchasing an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $58.00, for a total transaction of $4,512,400.00. Following the transaction, the insider now owns 51,842,238 shares of the company’s stock, valued at approximately $3,006,849,804. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 933,600 shares of company stock worth $51,891,044. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on K. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Barclays increased their price target on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday. Citigroup assumed coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. DA Davidson started coverage on Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. Finally, Piper Sandler boosted their price target on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.46.

Kellanova Stock Down 0.8 %

NYSE K opened at $60.04 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $47.63 and a 12 month high of $71.53. The stock’s 50 day moving average is $56.30 and its 200 day moving average is $54.72. The stock has a market cap of $20.53 billion, a PE ratio of 22.49, a P/E/G ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. Kellanova’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. Research analysts predict that Kellanova will post 3.58 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio is 83.90%.

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.