Kellanova $K Position Reduced by Securian Asset Management Inc.

Securian Asset Management Inc. cut its position in shares of Kellanova (NYSE:K) by 1.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,934 shares of the company’s stock after selling 200 shares during the period. Securian Asset Management Inc.’s holdings in Kellanova were worth $1,108,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Kellanova by 0.8% during the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock valued at $2,697,039,000 after buying an additional 259,604 shares in the last quarter. Keybank National Association OH grew its stake in Kellanova by 0.7% during the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company’s stock valued at $1,626,579,000 after acquiring an additional 128,439 shares in the last quarter. Pentwater Capital Management LP grew its stake in Kellanova by 39.0% during the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after acquiring an additional 2,245,000 shares in the last quarter. Northern Trust Corp grew its stake in Kellanova by 3.0% during the 1st quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock valued at $331,243,000 after acquiring an additional 117,650 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Kellanova by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company’s stock valued at $243,617,000 after acquiring an additional 292,063 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was 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 of the company’s stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 458,348 shares of company stock valued at $36,597,937. Insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.0%

Shares of NYSE K opened at $83.04 on Friday. The stock has a market cap of $28.87 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 5.16 and a beta of 0.24. The business has a 50 day simple moving average of $80.48 and a 200 day simple moving average of $80.84. Kellanova has a 52 week low of $76.48 and a 52 week 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.

Kellanova (NYSE:K) last announced 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). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. On average, research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, JPMorgan Chase & Co. assumed coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.