Intech Investment Management LLC Buys 24,124 Shares of Kellanova (NYSE:K)

Intech Investment Management LLC lifted its stake in shares of Kellanova (NYSE:K) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,880 shares of the company’s stock after acquiring an additional 24,124 shares during the period. Intech Investment Management LLC owned approximately 0.08% of Kellanova worth $14,754,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Kellanova during the fourth quarter worth $150,184,000. Invesco Ltd. boosted its holdings in Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after purchasing an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after purchasing an additional 1,051,922 shares during the last quarter. Anchor Capital Advisors LLC acquired a new position in Kellanova during the fourth quarter worth $38,939,000. Finally, Beutel Goodman & Co Ltd. boosted its holdings 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. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

K stock traded down $0.29 during mid-day trading on Friday, hitting $61.04. The stock had a trading volume of 1,689,092 shares, compared to its average volume of 3,176,386. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The firm has a market capitalization of $20.87 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.18 and a beta of 0.39. The firm has a fifty day simple moving average of $58.44 and a 200 day simple moving average of $55.78.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company posted $1.10 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, research analysts forecast that Kellanova will post 3.62 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.67%. Kellanova’s payout ratio is currently 83.90%.

Insider Activity

In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $53.44, for a total transaction of $4,157,632.00. Following the sale, the insider now owns 52,386,838 shares in the company, valued at $2,799,552,622.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 943,400 shares of company stock worth $54,183,354. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on K shares. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. TD Cowen increased their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Barclays increased their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.85.

Kellanova Company 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.