Czech National Bank Has $5.23 Million Position in Kellanova $K

Czech National Bank grew its position in Kellanova (NYSE:K) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,720 shares of the company’s stock after purchasing an additional 3,966 shares during the period. Czech National Bank’s holdings in Kellanova were worth $5,227,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of K. Royal Bank of Canada raised its holdings in Kellanova by 28.1% in the fourth quarter. Royal Bank of Canada now owns 635,813 shares of the company’s stock worth $51,481,000 after purchasing an additional 139,619 shares during the period. Vident Advisory LLC acquired a new stake in Kellanova in the fourth quarter worth $226,000. Waverly Advisors LLC raised its holdings in Kellanova by 752.5% in the fourth quarter. Waverly Advisors LLC now owns 50,087 shares of the company’s stock worth $4,056,000 after purchasing an additional 44,212 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Kellanova by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,661,225 shares of the company’s stock worth $215,479,000 after purchasing an additional 86,293 shares during the period. Finally, CSS LLC IL raised its holdings in Kellanova by 3,312.8% in the fourth quarter. CSS LLC IL now owns 13,651 shares of the company’s stock worth $1,105,000 after purchasing an additional 13,251 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 1,031,263 shares of company stock valued at $82,079,367 over the last three months. 1.80% of the stock is owned by insiders.

Kellanova Price Performance

NYSE:K opened at $78.26 on Friday. Kellanova has a 52 week low of $77.70 and a 52 week high of $83.22. The firm has a market cap of $27.21 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 4.90 and a beta of 0.27. The firm’s 50-day simple moving average is $79.71 and its 200 day simple moving average is $81.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68.

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

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.58 per share. This is a positive change 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%. The ex-dividend date of this dividend was Tuesday, September 2nd. Kellanova’s payout ratio is 60.89%.

Kellanova Company 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.