Kellanova (NYSE:K) Shares Acquired by Boston Partners

Boston Partners increased its position in shares of Kellanova (NYSE:K) by 117.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,278,079 shares of the company’s stock after acquiring an additional 689,395 shares during the quarter. Boston Partners owned approximately 0.37% of Kellanova worth $73,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 worth $316,323,000 after buying an additional 98,294 shares during the period. Beutel Goodman & Co Ltd. increased its position in shares of 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 acquiring an additional 655,686 shares during the last quarter. Norges Bank purchased a new stake in shares of Kellanova in the 4th quarter valued at approximately $150,184,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Kellanova by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after acquiring an additional 9,726 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on 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 transaction, the insider now owns 51,764,438 shares of the company’s stock, valued at $3,153,489,562.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Tuesday, May 7th. The shares were 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 owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction 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 completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 865,600 shares of company stock valued at $50,837,176. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on K. Royal Bank of Canada raised their price target on Kellanova from $60.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $70.00 in a research note on Friday. Barclays lowered their price objective on shares of Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Finally, Piper Sandler upped their target price on shares of Kellanova from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $62.79.

Kellanova Stock Up 1.5 %

Shares of K traded up $0.93 during mid-day trading on Friday, reaching $62.98. The company’s stock had a trading volume of 4,730,736 shares, compared to its average volume of 2,053,996. The company’s 50 day moving average is $58.25 and its 200 day moving average is $57.24. The stock has a market cap of $21.53 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.22 and a beta of 0.34. Kellanova has a 12-month low of $47.63 and a 12-month high of $67.79. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.41.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. Equities analysts anticipate that Kellanova will post 3.68 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is currently 83.90%.

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.