KBC Group NV Increases Holdings in Kellanova (NYSE:K)

KBC Group NV grew its stake in shares of Kellanova (NYSE:KFree Report) by 92.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,818 shares of the company’s stock after acquiring an additional 26,809 shares during the quarter. KBC Group NV’s holdings in Kellanova were worth $3,121,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Kellanova by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after buying an additional 98,294 shares during the period. Invesco Ltd. raised 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 purchasing an additional 1,132,485 shares during the period. Beutel Goodman & Co Ltd. grew its holdings in Kellanova by 15.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after purchasing an additional 655,686 shares during the period. Northern Trust Corp grew its holdings 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 during the period. Finally, Norges Bank purchased a new stake in Kellanova in the fourth quarter worth about $150,184,000. Institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. increased their price target on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. TD Cowen boosted their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. DA Davidson increased their target price on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Piper Sandler upped their price target on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average price target of $61.85.

Get Our Latest Stock Analysis on Kellanova

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the transaction, the insider now owns 52,231,238 shares of the company’s stock, valued at approximately $2,904,579,145.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the sale, the insider now directly owns 52,231,238 shares of the company’s stock, valued at $2,904,579,145.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,600 shares of company stock worth $50,366,486. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.5 %

K stock opened at $60.09 on Friday. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.69. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $59.20 and its two-hundred day simple moving average is $56.24. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.35.

Kellanova (NYSE:KGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, analysts anticipate that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio is presently 83.90%.

Kellanova Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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