National Pension Service Purchases 2,977 Shares of Kellanova $K

National Pension Service boosted its holdings in shares of Kellanova (NYSE:K) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 492,404 shares of the company’s stock after acquiring an additional 2,977 shares during the quarter. National Pension Service owned approximately 0.14% of Kellanova worth $39,161,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Financial Network Wealth Advisors LLC acquired a new position in shares of Kellanova during the 1st quarter worth $25,000. Trust Co. of Toledo NA OH acquired a new position in Kellanova during the second quarter worth $45,000. Dagco Inc. acquired a new position in Kellanova during the first quarter worth $49,000. Cypress Capital Management LLC WY bought a new position in Kellanova during the first quarter valued at about $54,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Kellanova by 32.7% in the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after buying an additional 177 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Up 0.0%

NYSE:K opened at $83.32 on Friday. The stock has a 50-day simple moving average of $81.58 and a 200 day simple moving average of $80.92. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.45. The company has a market cap of $28.99 billion, a PE ratio of 21.87, a PEG ratio of 5.16 and a beta of 0.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68.

Kellanova (NYSE:K) last released 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. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s dividend payout ratio (DPR) is 63.74%.

Analyst Ratings Changes

A number of research analysts have recently commented on K shares. Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.50.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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.