Forsta AP Fonden Sells 29,600 Shares of Kellanova (NYSE:K)

Forsta AP Fonden cut its holdings in shares of Kellanova (NYSE:K) by 17.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,400 shares of the company’s stock after selling 29,600 shares during the period. Forsta AP Fonden’s holdings in Kellanova were worth $8,156,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC lifted its stake in Kellanova by 10.1% during the 4th quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after acquiring an additional 24,124 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after purchasing an additional 10,676 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in Kellanova by 35.5% during the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock worth $4,566,000 after purchasing an additional 20,866 shares during the last quarter. Finally, M&G Plc bought a new stake in Kellanova in the 1st quarter worth about $9,346,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the transaction, the insider now directly owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $57.64, for a total value of $4,484,392.00. Following the sale, the insider now owns 51,219,838 shares of the company’s stock, valued at approximately $2,952,311,462.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 892,583 shares of company stock worth $60,355,010. 1.80% of the stock is owned by company insiders.

Kellanova Stock Up 0.5 %

K opened at $80.68 on Friday. The company has a 50 day moving average of $69.97 and a 200 day moving average of $62.06. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.97. The company has a market cap of $27.62 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $3.19 billion during 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 firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova’s dividend payout ratio is presently 85.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on K. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. StockNews.com assumed coverage on Kellanova in a research note on Monday, September 9th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their target price on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.32.

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.