Kellanova (NYSE:K) Shares Acquired by IFG Advisory LLC

IFG Advisory LLC grew its holdings in Kellanova (NYSE:K) by 1.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,825 shares of the company’s stock after buying an additional 189 shares during the period. IFG Advisory LLC’s holdings in Kellanova were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 98,294 shares during the last quarter. Beutel Goodman & Co Ltd. increased its position in Kellanova by 15.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after purchasing an additional 655,686 shares during the last quarter. Norges Bank acquired a new stake in Kellanova during the fourth quarter worth about $150,184,000. Finally, Dimensional Fund Advisors LP boosted its stake in Kellanova by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after buying an additional 9,726 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Up 0.1 %

Shares of Kellanova stock opened at $80.61 on Friday. Kellanova has a 52-week low of $47.63 and a 52-week high of $80.97. The company has a 50 day moving average of $65.84 and a 200 day moving average of $60.56. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $27.59 billion, a P/E ratio of 30.19, a P/E/G ratio of 2.59 and a beta of 0.34.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts forecast that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is currently 83.90%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $57.89, for a total transaction of $4,503,842.00. Following the sale, the insider now owns 51,375,438 shares of the company’s stock, valued at $2,974,124,105.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 855,800 shares of company stock worth $55,663,566 over the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research note on Sunday. They set a “hold” rating for the company. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a research note on Monday, August 5th. 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 research note on Thursday, August 15th. Finally, Piper Sandler increased their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Kellanova has an average rating of “Hold” and a consensus target price of $74.32.

About Kellanova

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.