Kellanova (NYSE:K) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC increased its holdings in Kellanova (NYSE:K) by 133.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 60,885 shares of the company’s stock after buying an additional 34,800 shares during the period. International Assets Investment Management LLC’s holdings in Kellanova were worth $3,404,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in Kellanova by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock valued at $330,841,000 after purchasing an additional 200,870 shares during the last quarter. Invesco Ltd. grew its holdings in Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after buying an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp increased its position in Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after acquiring an additional 1,051,922 shares during the period. Northern Trust Corp raised its stake in Kellanova by 8.7% during the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after acquiring an additional 328,658 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Kellanova by 27.4% in the third quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock worth $95,670,000 after purchasing an additional 345,830 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on K shares. Piper Sandler increased their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Barclays increased their price objective on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday. TD Cowen boosted their target price on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. DA Davidson increased their price target on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. Finally, StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.85.

Insiders Place Their Bets

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction that occurred 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 owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the completion of the sale, the insider now directly owns 51,764,438 shares of the company’s stock, valued at approximately $3,153,489,562.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 943,400 shares of company stock worth $53,047,474. 1.80% of the stock is currently owned by company insiders.

Kellanova Price Performance

K stock opened at $61.60 on Friday. Kellanova has a one year low of $47.63 and a one year high of $71.19. The firm has a 50-day moving average of $56.54 and a two-hundred day moving average of $54.85. The firm has a market capitalization of $21.06 billion, a PE ratio of 23.07, a P/E/G ratio of 2.32 and a beta of 0.39. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.10 EPS. The company’s revenue was down 4.2% on a year-over-year basis. On average, analysts forecast that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

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.