Robeco Institutional Asset Management B.V. Decreases Holdings in Kellanova (NYSE:K)

Robeco Institutional Asset Management B.V. lessened its holdings in Kellanova (NYSE:K) by 97.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,293 shares of the company’s stock after selling 701,443 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Kellanova were worth $1,234,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. D. E. Shaw & Co. Inc. increased its position in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares during the period. Maverick Capital Ltd. acquired a new stake in Kellanova in the second quarter valued at approximately $88,065,000. Point72 Asset Management L.P. acquired a new stake in shares of Kellanova during the second quarter worth $63,585,000. Boston Partners lifted its stake in shares of Kellanova by 117.1% during the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after buying an additional 689,395 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Kellanova by 130.1% during the second quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock worth $62,122,000 after buying an additional 608,989 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the transaction, the insider now directly owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the sale, the insider now directly owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,150,064 shares of company stock worth $92,680,265. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

K has been the subject of several research reports. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, 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 report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Up 0.4 %

K stock opened at $81.00 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $27.92 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.60 and a beta of 0.39. The firm has a 50-day simple moving average of $80.65 and a 200-day simple moving average of $69.11. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.26.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. Equities analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal 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. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. Kellanova’s dividend payout ratio is currently 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.