BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in Kellanova $K

BI Asset Management Fondsmaeglerselskab A S increased its position in Kellanova (NYSE:K) by 429.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,978 shares of the company’s stock after buying an additional 45,399 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Kellanova were worth $4,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in K. Grove Bank & Trust purchased a new position in shares of Kellanova in the 1st quarter worth about $25,000. Financial Network Wealth Advisors LLC acquired a new stake in Kellanova during the 1st quarter worth approximately $25,000. MorganRosel Wealth Management LLC purchased a new position in Kellanova in the first quarter valued at approximately $27,000. Accredited Wealth Management LLC purchased a new position in Kellanova in the fourth quarter valued at approximately $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Kellanova during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on K. JPMorgan Chase & Co. initiated coverage on shares of Kellanova in a research report on Wednesday. They issued a “neutral” rating and a $83.50 price objective for the company. Wall Street Zen downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Finally, Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 price objective on the stock in a research note on Thursday, May 29th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $83.40.

Kellanova Stock Performance

Kellanova stock opened at $80.0450 on Thursday. Kellanova has a 12-month low of $77.70 and a 12-month high of $83.22. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 4.96 and a beta of 0.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The firm’s fifty day moving average price is $79.70 and its 200 day moving average price is $81.42.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 2.9%. Kellanova’s payout ratio is currently 59.84%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $80.07, for a total transaction of $9,174,660.81. Following the completion of the transaction, the insider directly owned 45,326,620 shares in the company, valued at approximately $3,629,302,463.40. This represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 1,145,830 shares of company stock valued at $91,810,775. Corporate insiders own 1.80% of the company’s stock.

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.