Voya Investment Management LLC Has $6.71 Million Position in Kellanova $K

Voya Investment Management LLC raised its stake in Kellanova (NYSE:K) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,311 shares of the company’s stock after acquiring an additional 774 shares during the period. Voya Investment Management LLC’s holdings in Kellanova were worth $6,707,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pentwater Capital Management LP raised its stake in Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after purchasing an additional 2,245,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Kellanova by 66.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after buying an additional 962,172 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Kellanova by 8,377.9% in the 1st quarter. GAMMA Investing LLC now owns 568,274 shares of the company’s stock valued at $46,877,000 after buying an additional 561,571 shares in the last quarter. Alpine Associates Management Inc. lifted its holdings in shares of Kellanova by 89.0% during the 1st quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company’s stock worth $95,536,000 after acquiring an additional 545,300 shares during the period. Finally, CIBRA Capital Ltd acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $29,989,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on K. JPMorgan Chase & Co. assumed coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price for the company. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Finally, Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.38.

Kellanova Trading Down 1.0%

NYSE:K opened at $78.62 on Thursday. Kellanova has a 52 week low of $77.70 and a 52 week high of $83.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The firm’s fifty day moving average is $79.74 and its 200-day moving average is $81.03. The firm has a market cap of $27.33 billion, a P/E ratio of 20.63, a P/E/G ratio of 4.94 and a beta of 0.27.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. The ex-dividend date was Tuesday, September 2nd. This is an increase from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 3.0%. Kellanova’s dividend payout ratio is presently 60.89%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,031,263 shares of company stock valued at $82,079,367 over the last quarter. 1.80% of the stock is currently owned by insiders.

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.