Bank of New York Mellon Corp Has $118.56 Million Stock Position in Kellanova $K

Bank of New York Mellon Corp lowered its holdings in shares of Kellanova (NYSE:K) by 6.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,490,710 shares of the company’s stock after selling 109,632 shares during the period. Bank of New York Mellon Corp’s holdings in Kellanova were worth $118,556,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Syquant Capital Sas increased its stake in shares of 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. Public Employees Retirement System of Ohio grew its holdings in Kellanova by 6.8% in the second quarter. Public Employees Retirement System of Ohio now owns 86,258 shares of the company’s stock worth $6,860,000 after purchasing an additional 5,524 shares during the period. Citigroup Inc. grew its holdings in Kellanova by 101.6% in the first quarter. Citigroup Inc. now owns 457,138 shares of the company’s stock worth $37,709,000 after purchasing an additional 230,397 shares during the period. Callan Family Office LLC acquired a new position in shares of Kellanova during the second quarter valued at about $364,000. Finally, PSquared Asset Management AG bought a new position in shares of Kellanova during the 1st quarter worth about $28,905,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $83.30 on Friday. The stock has a market cap of $28.98 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 5.16 and a beta of 0.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.42. The firm’s 50-day simple moving average is $81.19 and its 200 day simple moving average is $80.90.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on 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 of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 343,765 shares of company stock worth $27,455,360. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

K has been the subject of a number of research analyst reports. Weiss Ratings lowered 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 research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. initiated coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.50.

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.