Kellanova (NYSE:K) Shares Acquired by Citigroup Inc.

Citigroup Inc. boosted its position in shares of Kellanova (NYSE:K) by 1.3% in the third quarter, Holdings Channel.com reports. The firm owned 323,619 shares of the company’s stock after acquiring an additional 4,239 shares during the period. Citigroup Inc.’s holdings in Kellanova were worth $26,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in K. Dimensional Fund Advisors LP increased its holdings in Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares during the last quarter. Yacktman Asset Management LP increased its stake in shares of Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after buying an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after acquiring an additional 1,664,461 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Kellanova by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after acquiring an additional 35,268 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Kellanova in the 2nd quarter worth about $88,065,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,109,047 shares of company stock worth $89,483,556 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group started coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

Shares of K stock opened at $81.11 on Tuesday. The business has a 50 day simple moving average of $80.78 and a 200 day simple moving average of $70.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a market capitalization of $27.96 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, equities research analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Kellanova 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.