Kellanova $K Stake Boosted by Swedbank AB

Swedbank AB boosted its stake in shares of Kellanova (NYSE:K) by 10.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 252,161 shares of the company’s stock after purchasing an additional 24,645 shares during the quarter. Swedbank AB’s holdings in Kellanova were worth $20,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in K. Trust Co. of Toledo NA OH purchased a new position in shares of Kellanova in the second quarter worth approximately $45,000. CYBER HORNET ETFs LLC acquired a new position in Kellanova in the 2nd quarter worth approximately $55,000. Capital Advisors Ltd. LLC grew its position in Kellanova by 32.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after purchasing an additional 177 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Kellanova during the 2nd quarter valued at $59,000. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Kellanova by 114.3% in the second quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock valued at $60,000 after purchasing an additional 400 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of NYSE K opened at $83.44 on Friday. The business’s 50-day moving average price is $83.31 and its two-hundred day moving average price is $81.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.68 and a quick ratio of 0.44. Kellanova has a one year low of $76.48 and a one year high of $83.65. The company has a market capitalization of $29.03 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 11.61 and a beta of 0.23.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a return on equity of 31.73% and a net margin of 10.08%.The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. Analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Analyst Ratings Changes

K has been the topic of several recent analyst reports. Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings downgraded Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $83.50.

Kellanova Profile

Kellanova (NYSE: K) is a global consumer foods company formed from the reorganization of the historic Kellogg business. The company focuses on the manufacture, marketing and distribution of packaged food products across several categories, with an emphasis on snacks, ready-to-eat cereals, frozen breakfast and other convenience foods. Kellanova’s operations draw on a long consumer-brands heritage and a portfolio designed to reach everyday retail and snack occasions around the world.

Kellanova’s activities include product development, manufacturing, marketing and global supply-chain management for branded food products.