Boston Partners Boosts Holdings in Kellanova (NYSE:K)

Boston Partners increased its position in Kellanova (NYSE:K) by 117.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,278,079 shares of the company’s stock after buying an additional 689,395 shares during the quarter. Boston Partners’ holdings in Kellanova were worth $73,221,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in K. Zhang Financial LLC boosted its stake in shares of Kellanova by 0.8% during the 1st quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock valued at $1,221,000 after buying an additional 176 shares during the last quarter. Bfsg LLC boosted its stake in Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. Financial Advisors Network Inc. grew its holdings in Kellanova by 4.2% during the 4th quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after acquiring an additional 204 shares in the last quarter. Blue Trust Inc. increased its position 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 purchasing an additional 206 shares during the last quarter. Finally, Czech National Bank increased its position in shares of Kellanova by 0.5% in the 1st quarter. Czech National Bank now owns 46,405 shares of the company’s stock worth $2,659,000 after purchasing an additional 213 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the transaction, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following 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 SEC, 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 on Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the transaction, the insider now directly owns 50,908,638 shares of the company’s stock, valued at $2,913,501,352.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,600 shares of company stock valued at $50,837,176. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on K. TD Cowen increased their price target on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday. Barclays reduced their price objective on Kellanova from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Finally, DA Davidson boosted their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.79.

Kellanova Stock Performance

NYSE:K traded up $0.93 during mid-day trading on Friday, hitting $62.98. The stock had a trading volume of 4,730,736 shares, compared to its average volume of 2,053,996. The company has a current ratio of 0.73, a quick ratio of 0.41 and a debt-to-equity ratio of 1.46. The company has a 50 day simple moving average of $58.25 and a 200-day simple moving average of $57.24. The stock has a market capitalization of $21.53 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.22 and a beta of 0.34. Kellanova has a 52 week low of $47.63 and a 52 week high of $67.79.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, research analysts expect that Kellanova will post 3.68 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s 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.