TD Asset Management Inc Increases Holdings in Kellanova $K

TD Asset Management Inc grew its holdings in shares of Kellanova (NYSE:K) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 99,812 shares of the company’s stock after acquiring an additional 611 shares during the quarter. TD Asset Management Inc’s holdings in Kellanova were worth $7,938,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in K. Financial Network Wealth Advisors LLC purchased a new stake in shares of Kellanova during the 1st quarter valued at about $25,000. MorganRosel Wealth Management LLC bought a new position in Kellanova during the 1st quarter valued at about $27,000. Trust Co. of Toledo NA OH bought a new position in Kellanova during the 2nd quarter valued at about $45,000. EQ Wealth Advisors LLC bought a new position in Kellanova during the 1st quarter valued at about $49,000. Finally, Dagco Inc. bought a new position in Kellanova during the 1st quarter valued at about $49,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 458,348 shares of company stock valued at $36,597,937. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

K has been the topic of several analyst reports. Wall Street Zen downgraded shares of Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. JPMorgan Chase & Co. initiated coverage on shares of Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Finally, Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus target price of $83.38.

Kellanova Price Performance

Shares of K stock opened at $83.09 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The company has a market capitalization of $28.89 billion, a P/E ratio of 21.81, a P/E/G ratio of 5.16 and a beta of 0.24. The company’s 50-day simple moving average is $80.25 and its two-hundred day simple moving average is $80.79. Kellanova has a one year low of $76.48 and a one year high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, equities analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.58 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s payout ratio is currently 60.89%.

About Kellanova

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.