Principal Financial Group Inc. grew its position in Kellanova (NYSE:K – Free Report) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,792 shares of the company’s stock after purchasing an additional 24,067 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Kellanova worth $30,169,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. CVA Family Office LLC raised its holdings in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. MCF Advisors LLC lifted its position in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Kellanova in the second quarter valued at $39,000. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the completion of the transaction, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 1,031,247 shares of company stock worth $83,322,466. Corporate insiders own 1.80% of the company’s stock.
Kellanova Trading Up 0.1 %
Shares of Kellanova stock opened at $80.82 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $27.86 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.34. The company’s 50-day simple moving average is $80.81 and its 200-day simple moving average is $73.61.
Kellanova (NYSE:K – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. As a group, equities research analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.
Kellanova Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.
Wall Street Analysts Forecast Growth
K has been the subject of several research reports. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, StockNews.com began coverage on shares of Kellanova in a research report on Sunday. They set a “hold” rating on the stock. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $76.35.
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About Kellanova
(Free Report)
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.
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