Kapitalo Investimentos Ltda Sells 10,397 Shares of Kellanova (NYSE:K)

Kapitalo Investimentos Ltda decreased its holdings in shares of Kellanova (NYSE:K) by 87.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,532 shares of the company’s stock after selling 10,397 shares during the period. Kapitalo Investimentos Ltda’s holdings in Kellanova were worth $86,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after buying an additional 1,130,582 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after acquiring an additional 98,294 shares in the last quarter. Beutel Goodman & Co Ltd. increased its stake in Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after acquiring an additional 655,686 shares during the last quarter. Northern Trust Corp raised its position in Kellanova by 8.7% during the third quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after purchasing an additional 328,658 shares in the last quarter. Finally, Norges Bank purchased a new stake in Kellanova during the fourth quarter valued at about $150,184,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

K has been the topic of several recent research reports. DA Davidson increased their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. TD Cowen increased their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Barclays upped their price objective on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.85.

Kellanova Stock Up 1.2 %

NYSE K opened at $58.80 on Thursday. Kellanova has a 1 year low of $47.63 and a 1 year high of $68.69. The stock has a market capitalization of $20.10 billion, a PE ratio of 22.02, a PEG ratio of 2.09 and a beta of 0.35. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The business’s 50-day moving average is $59.48 and its 200 day moving average is $56.66.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business posted $1.10 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Sell-side analysts forecast that Kellanova will post 3.61 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Monday, June 3rd. Kellanova’s payout ratio is currently 83.90%.

Insiders Place Their Bets

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, April 8th. The shares were sold at an average price of $57.46, for a total value of $4,470,388.00. Following the completion of the sale, the insider now directly owns 52,075,638 shares in the company, valued at $2,992,266,159.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $57.46, for a total value of $4,470,388.00. Following the completion of the transaction, the insider now owns 52,075,638 shares in the company, valued at $2,992,266,159.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly 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. In the last ninety days, insiders sold 787,800 shares of company stock worth $46,428,250. 1.80% of the stock is currently owned by corporate insiders.

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.