Andra AP fonden Raises Holdings in Kellanova $K

Andra AP fonden increased its position in Kellanova (NYSE:K) by 27.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 432,600 shares of the company’s stock after purchasing an additional 92,800 shares during the period. Andra AP fonden owned 0.12% of Kellanova worth $34,405,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Advisors Preferred LLC acquired a new position in Kellanova during the second quarter worth approximately $369,000. Alpine Associates Management Inc. grew its position in shares of Kellanova by 23.4% during the second quarter. Alpine Associates Management Inc. now owns 1,429,375 shares of the company’s stock worth $113,678,000 after acquiring an additional 271,225 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Kellanova by 42.8% in the 2nd quarter. Bank of Montreal Can now owns 334,974 shares of the company’s stock valued at $26,640,000 after acquiring an additional 100,418 shares during the period. State of Michigan Retirement System raised its position in Kellanova by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 73,121 shares of the company’s stock valued at $5,815,000 after purchasing an additional 200 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in Kellanova in the 2nd quarter valued at $9,544,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 343,765 shares of company stock valued at $27,455,360. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

NYSE K opened at $83.19 on Thursday. The stock has a market capitalization of $28.94 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 5.16 and a beta of 0.23. The business’s 50 day moving average is $81.03 and its two-hundred day moving average is $80.88. Kellanova has a 12-month low of $76.48 and a 12-month high of $83.42. 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 (NYSE:K) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. Kellanova’s dividend payout ratio is 63.74%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on K. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, JPMorgan Chase & Co. assumed coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average price target of $83.50.

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.