Charles Schwab Investment Management Inc. Buys 98,294 Shares of Kellanova (NYSE:K)

Charles Schwab Investment Management Inc. lifted its position in Kellanova (NYSE:K) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,657,709 shares of the company’s stock after acquiring an additional 98,294 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.65% of Kellanova worth $316,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in K. Oakworth Capital Inc. boosted its position in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after buying an additional 928 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd raised 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 acquiring an additional 1,450 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on K. TD Cowen upped their price target on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Wells Fargo & Company lifted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. DA Davidson started coverage on shares of Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Citigroup assumed coverage on shares of Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus target price of $61.46.

Kellanova Stock Up 1.2 %

Shares of K stock traded up $0.72 during trading hours on Wednesday, hitting $62.36. 1,430,551 shares of the company’s stock traded hands, compared to its average volume of 3,238,067. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The stock’s fifty day simple moving average is $56.42 and its two-hundred day simple moving average is $54.80. Kellanova has a 12-month low of $47.63 and a 12-month high of $71.53. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last released 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 net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business earned $1.10 EPS. Kellanova’s revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.58 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.59%. Kellanova’s dividend payout ratio is presently 83.90%.

Insider Activity

In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the transaction, the insider now directly owns 52,620,238 shares of the company’s stock, valued at approximately $2,824,128,173.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders sold 1,021,200 shares of company stock valued at $57,219,110 over the last three months. Insiders own 1.80% 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.