Handelsbanken Fonder AB Has $10.11 Million Stock Position in Kellanova (NYSE:K)

Handelsbanken Fonder AB raised its stake in Kellanova (NYSE:K) by 29.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,783 shares of the company’s stock after buying an additional 40,656 shares during the period. Handelsbanken Fonder AB owned 0.05% of Kellanova worth $10,108,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Naples Global Advisors LLC lifted its holdings in shares of Kellanova by 1.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after purchasing an additional 200 shares during the period. Huntington National Bank lifted its holdings in shares of Kellanova by 1.6% during the third quarter. Huntington National Bank now owns 12,808 shares of the company’s stock worth $762,000 after purchasing an additional 204 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Kellanova by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,836 shares of the company’s stock worth $1,835,000 after purchasing an additional 206 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. Finally, Kennedy Investment Group lifted its holdings in shares of Kellanova by 1.2% during the fourth quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock worth $1,035,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the sale, the insider now directly owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 933,600 shares of company stock worth $51,632,748. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Up 1.0 %

Kellanova stock opened at $58.75 on Thursday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The stock has a market cap of $20.08 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.40. The firm’s 50-day simple moving average is $55.85 and its 200 day simple moving average is $54.19. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. Research analysts predict that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is currently 81.45%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on K. Stifel Nicolaus lifted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Piper Sandler lifted their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Barclays lifted their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $62.27.

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.