Kellanova $K Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Kellanova (NYSE:K) by 51.6% during the second quarter, HoldingsChannel.com reports. The firm owned 238,885 shares of the company’s stock after buying an additional 81,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Kellanova were worth $18,999,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Financial Network Wealth Advisors LLC acquired a new position in shares of Kellanova during the first quarter worth $25,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Kellanova during the first quarter valued at $27,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Kellanova during the second quarter valued at $45,000. Dagco Inc. purchased a new stake in shares of Kellanova during the first quarter valued at $49,000. Finally, Cypress Capital Management LLC WY purchased a new stake in shares of Kellanova during the first quarter valued at $54,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction 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 sale, the insider directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 343,765 shares of company stock valued at $27,455,360 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Price Performance

NYSE:K opened at $83.10 on Wednesday. Kellanova has a one year low of $76.48 and a one year high of $83.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 5.17 and a beta of 0.24. The firm’s fifty day moving average is $80.66 and its two-hundred day moving average is $80.84.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s dividend payout ratio is presently 60.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on K shares. 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 price objective on the stock. Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Finally, Wall Street Zen lowered shares of Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.38.

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.