Charles Schwab Investment Management Inc. Increases Stock Holdings in Kellanova $K

Charles Schwab Investment Management Inc. increased its position in Kellanova (NYSE:K) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,694,817 shares of the company’s stock after acquiring an additional 12,134 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.49% of Kellanova worth $134,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pentwater Capital Management LP boosted its holdings in Kellanova by 39.0% in the 1st 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 during the period. JPMorgan Chase & Co. raised its position in shares of Kellanova by 66.3% in the first quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock worth $199,049,000 after buying an additional 962,172 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kellanova by 2.0% during the second quarter. Vanguard Group Inc. now owns 33,356,883 shares of the company’s stock valued at $2,652,873,000 after buying an additional 661,535 shares during the period. Syquant Capital Sas grew its position in Kellanova by 123.6% during the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock worth $90,948,000 after buying an additional 632,168 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its stake in Kellanova by 89.0% in 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 last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Weiss Ratings cut shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average price target of $83.50.

Kellanova Trading Up 0.2%

K stock opened at $83.64 on Friday. The company has a market capitalization of $29.10 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. 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 has a one year low of $76.48 and a one year high of $83.65. The company’s 50 day moving average price is $82.36 and its two-hundred day moving average price is $80.98.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. As a group, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.58 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s payout ratio is currently 63.74%.

About Kellanova

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.