V Square Quantitative Management LLC Raises Stock Holdings in Kellanova (NYSE:K)

V Square Quantitative Management LLC grew its position in shares of Kellanova (NYSE:K) by 17.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,321 shares of the company’s stock after acquiring an additional 1,078 shares during the quarter. V Square Quantitative Management LLC’s holdings in Kellanova were worth $419,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Kellanova by 3.6% in the fourth 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 period. Charles Schwab Investment Management Inc. grew its stake in shares of Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after purchasing an additional 98,294 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after purchasing an additional 1,132,485 shares during the period. Beutel Goodman & Co Ltd. raised its stake 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 purchasing an additional 655,686 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Kellanova by 27.4% in the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after purchasing an additional 1,051,922 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $53.44, for a total value of $4,157,632.00. Following the transaction, the insider now owns 52,386,838 shares in the company, valued at $2,799,552,622.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $53.44, for a total transaction of $4,157,632.00. Following the transaction, the insider now directly owns 52,386,838 shares of the company’s stock, valued at $2,799,552,622.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 943,400 shares of company stock valued at $54,183,354. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Piper Sandler boosted their price objective on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target on the stock. Finally, DA Davidson raised their price objective on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.85.

Kellanova Stock Down 1.0 %

Shares of K stock traded down $0.63 on Wednesday, reaching $61.62. 1,384,145 shares of the company’s stock traded hands, compared to its average volume of 3,115,119. The company has a market capitalization of $21.07 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. Kellanova has a 12-month low of $47.63 and a 12-month high of $68.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The business’s 50 day moving average price is $58.13 and its two-hundred day moving average price is $55.64.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. Kellanova’s dividend payout ratio is 83.90%.

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.