Kellanova (NYSE:K) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in Kellanova (NYSE:K) by 26.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,947 shares of the company’s stock after buying an additional 2,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Kellanova were worth $884,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after buying an additional 277,171 shares in the last quarter. Yacktman Asset Management LP grew its holdings in Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after acquiring an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kellanova by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after purchasing an additional 35,268 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Kellanova during the second quarter worth about $88,065,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

K opened at $80.74 on Friday. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34. The stock has a market cap of $27.83 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.58 and a beta of 0.38. The business’s 50 day moving average is $80.82 and its 200-day moving average is $71.97. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, analysts predict that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 1,145,830 shares of company stock valued at $92,516,606. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the subject of several research analyst reports. StockNews.com initiated coverage on Kellanova in a report on Friday. They issued a “hold” rating for the company. Piper Sandler upped their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays increased their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.35.

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.