American Century Companies Inc. Purchases 4,737 Shares of Kellanova (NYSE:K)

American Century Companies Inc. grew its stake in shares of Kellanova (NYSE:K) by 14.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,893 shares of the company’s stock after acquiring an additional 4,737 shares during the period. American Century Companies Inc.’s holdings in Kellanova were worth $2,128,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of K. Stifel Financial Corp lifted its position in Kellanova by 101.6% during the fourth quarter. Stifel Financial Corp now owns 131,173 shares of the company’s stock valued at $7,334,000 after purchasing an additional 66,103 shares during the period. Fiduciary Trust Co lifted its holdings in shares of Kellanova by 15.1% in the 4th quarter. Fiduciary Trust Co now owns 5,175 shares of the company’s stock worth $289,000 after acquiring an additional 678 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Kellanova by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 182,725 shares of the company’s stock worth $10,216,000 after acquiring an additional 1,420 shares during the last quarter. KBC Group NV lifted its holdings in Kellanova by 92.4% during the 4th quarter. KBC Group NV now owns 55,818 shares of the company’s stock worth $3,121,000 after buying an additional 26,809 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Kellanova by 14.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,229 shares of the company’s stock worth $181,000 after buying an additional 407 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Up 0.2 %

K stock opened at $80.78 on Friday. Kellanova has a 1-year low of $47.63 and a 1-year high of $80.97. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The stock’s fifty day simple moving average is $74.69 and its two-hundred day simple moving average is $63.86. The stock has a market cap of $27.62 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) 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 analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. Analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio is currently 85.39%.

Analyst Ratings Changes

A number of research analysts recently commented on K shares. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Fourteen 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, Kellanova has a consensus rating of “Hold” and an average price target of $74.32.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.19, for a total value of $4,371,582.00. Following the transaction, the insider now owns 51,064,238 shares in the company, valued at $2,869,299,533.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 966,149 shares of company stock worth $69,866,455. 1.80% of the stock is currently owned by company insiders.

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.