Wellington Management Group LLP Grows Stock Holdings in Kellanova (NYSE:K)

Wellington Management Group LLP grew its stake in Kellanova (NYSE:K) by 65.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,847 shares of the company’s stock after purchasing an additional 7,829 shares during the period. Wellington Management Group LLP’s holdings in Kellanova were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swedbank AB increased its holdings in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after acquiring an additional 24,067 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Kellanova during the 3rd quarter valued at about $4,211,000. Impax Asset Management Group plc purchased a new stake in Kellanova during the third quarter worth about $4,991,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Kellanova by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after purchasing an additional 35,268 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Down 0.2 %

Shares of NYSE:K opened at $80.39 on Thursday. 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 stock has a market cap of $27.71 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.59 and a beta of 0.38. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The firm has a fifty day moving average price of $80.82 and a 200 day moving average price of $73.18.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. Sell-side analysts predict that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analysts Set New Price Targets

K has been the topic of several recent research reports. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the company from $80.00 to $83.50 in a research note on Monday, August 26th. StockNews.com initiated coverage on Kellanova in a report on Saturday, December 14th. They set a “hold” rating on the stock. Finally, Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $76.35.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $80.68, for a total transaction of $9,244,556.44. Following the completion of the sale, the insider now directly owns 50,253,689 shares in the company, valued at approximately $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,327,049 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.