Nordea Investment Management AB Sells 780 Shares of Kellanova $K

Nordea Investment Management AB trimmed its position in shares of Kellanova (NYSE:K) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,646 shares of the company’s stock after selling 780 shares during the quarter. Nordea Investment Management AB’s holdings in Kellanova were worth $2,983,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Financial Counselors Inc. bought a new stake in Kellanova in the 1st quarter valued at $522,000. IFM Investors Pty Ltd lifted its position in Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after acquiring an additional 5,957 shares in the last quarter. Syquant Capital Sas lifted its position in Kellanova by 123.6% in the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after acquiring an additional 632,168 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Kellanova by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock valued at $2,771,000 after acquiring an additional 3,747 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Kellanova by 6.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,258 shares of the company’s stock valued at $6,860,000 after acquiring an additional 5,524 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Kellanova

In other 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 transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 458,348 shares of company stock worth $36,597,937. 1.80% of the stock is owned by insiders.

Kellanova Stock Up 0.0%

Shares of K stock opened at $83.01 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The firm’s fifty day moving average price is $80.42 and its two-hundred day moving average price is $80.83. The firm has a market capitalization of $28.86 billion, a P/E ratio of 21.79, a PEG ratio of 5.16 and a beta of 0.24.

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

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.58 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. This is a boost from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio (DPR) is presently 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.