6,330 Shares in Kellanova $K Acquired by Midwest Trust Co

Midwest Trust Co purchased a new position in shares of Kellanova (NYSE:K) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,330 shares of the company’s stock, valued at approximately $503,000.

A number of other large investors also recently bought and sold shares of K. Pentwater Capital Management LP raised its holdings in shares of Kellanova by 39.0% during the first 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Kellanova by 66.3% in the first quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after purchasing an additional 962,172 shares during the period. Syquant Capital Sas increased its stake in shares of Kellanova by 123.6% during the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock worth $90,948,000 after buying an additional 632,168 shares during the period. Alpine Associates Management Inc. raised its stake in Kellanova by 89.0% in the first quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company’s stock valued at $95,536,000 after buying an additional 545,300 shares in the last quarter. Finally, PSquared Asset Management AG purchased a new position in Kellanova in the first quarter valued at approximately $28,905,000. 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 stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 343,765 shares of company stock valued at $27,455,360. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of a number of analyst reports. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus target price of $83.50.

Kellanova Stock Down 0.0%

Kellanova stock opened at $83.32 on Wednesday. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.42. The stock has a market cap of $28.99 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 5.16 and a beta of 0.23. The company’s 50-day moving average price is $81.35 and its two-hundred day moving average price is $80.88. 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 announced its earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating 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 business 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. Kellanova’s revenue was up .8% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.58 dividend. The ex-dividend date 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 currently 63.74%.

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.