Kellanova (NYSE:K) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lessened its holdings in shares of Kellanova (NYSE:K) by 16.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,300 shares of the company’s stock after selling 13,401 shares during the period. Banque Cantonale Vaudoise’s holdings in Kellanova were worth $3,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 acquiring an additional 1,130,582 shares during the period. Charles Schwab Investment Management Inc. boosted 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 in the last quarter. Beutel Goodman & Co Ltd. boosted 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 in the last quarter. Norges Bank purchased a new stake in Kellanova during the fourth quarter worth $150,184,000. Finally, Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 9,726 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on K shares. Wells Fargo & Company boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and an average price target of $74.32.

Kellanova Trading Up 0.1 %

Kellanova stock traded up $0.08 during trading on Friday, hitting $80.61. The company’s stock had a trading volume of 4,352,913 shares, compared to its average volume of 3,336,706. The stock has a market capitalization of $27.56 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.22 and a beta of 0.34. The stock’s fifty day moving average is $65.84 and its 200 day moving average is $60.52. Kellanova has a 1-year low of $47.63 and a 1-year high of $80.97. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.41 and a current ratio of 0.73.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. As a group, equities research analysts predict that Kellanova will post 3.68 EPS for the current year.

Kellanova Increases Dividend

The firm also recently announced 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. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date is Tuesday, September 3rd. Kellanova’s dividend payout ratio is presently 85.39%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 855,800 shares of company stock worth $55,663,566. 1.80% of the stock is currently owned by insiders.

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.