Invesco Ltd. Buys 119,131 Shares of Kellanova $K

Invesco Ltd. grew its stake in shares of Kellanova (NYSE:K) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,172,891 shares of the company’s stock after acquiring an additional 119,131 shares during the period. Invesco Ltd. owned 0.91% of Kellanova worth $252,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in K. Vanguard Group Inc. increased its stake in shares of Kellanova by 2.0% during the second quarter. Vanguard Group Inc. now owns 33,356,883 shares of the company’s stock worth $2,652,873,000 after purchasing an additional 661,535 shares during the period. Pentwater Capital Management LP grew its holdings in Kellanova by 39.0% in the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after buying an additional 2,245,000 shares in the last quarter. Geode Capital Management LLC increased its position in Kellanova by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 7,289,089 shares of the company’s stock worth $577,362,000 after buying an additional 163,126 shares during the period. Northern Trust Corp lifted its holdings in shares of Kellanova by 3.0% during the first quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock worth $331,243,000 after buying an additional 117,650 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Kellanova in the second quarter valued at about $294,749,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

K has been the topic of several research reports. Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, JPMorgan Chase & Co. started coverage on shares of Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.50.

Kellanova Trading Down 0.0%

K opened at $83.12 on Friday. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.65. The company has a 50-day simple moving average of $83.08 and a 200 day simple moving average of $81.01. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 11.57 and a beta of 0.23.

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

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, December 1st. Kellanova’s payout ratio is currently 63.74%.

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.