Northern Trust Corp Buys 117,650 Shares of Kellanova $K

Northern Trust Corp increased its stake in Kellanova (NYSE:K) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,015,549 shares of the company’s stock after purchasing an additional 117,650 shares during the quarter. Northern Trust Corp owned approximately 1.16% of Kellanova worth $331,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group increased its position in Kellanova by 11.0% in the first quarter. Brooklyn Investment Group now owns 1,862 shares of the company’s stock worth $154,000 after buying an additional 185 shares during the last quarter. Affinity Investment Advisors LLC bought a new position in shares of Kellanova during the 1st quarter worth $439,000. Northwest & Ethical Investments L.P. increased its holdings in Kellanova by 42.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 34,984 shares of the company’s stock worth $2,886,000 after acquiring an additional 10,345 shares during the last quarter. American Century Companies Inc. increased its holdings in Kellanova by 12.9% in the 1st quarter. American Century Companies Inc. now owns 17,134 shares of the company’s stock worth $1,413,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Ethic Inc. raised its stake in Kellanova by 4.6% in the 1st quarter. Ethic Inc. now owns 17,066 shares of the company’s stock valued at $1,408,000 after acquiring an additional 746 shares during the period. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

K has been the subject of a number of research reports. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research report on Wednesday. They set a “neutral” rating and a $83.50 target price for the company. Citigroup upgraded shares of Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a research note on Thursday, May 29th. Finally, Wall Street Zen lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.40.

Kellanova Trading Down 0.0%

Shares of Kellanova stock opened at $80.0450 on Thursday. The company’s 50-day moving average price is $79.70 and its 200-day moving average price is $81.42. 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 has a 12-month low of $77.70 and a 12-month high of $83.22. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 4.96 and a beta of 0.27.

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

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio (DPR) is 59.84%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $80.07, for a total transaction of $9,174,660.81. Following the completion of the transaction, the insider directly owned 45,326,620 shares in the company, valued at $3,629,302,463.40. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,145,830 shares of company stock worth $91,810,775 over the last three months. 1.80% of the stock is currently owned by company insiders.

Kellanova Company 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.