Banco Bilbao Vizcaya Argentaria S.A. Sells 2,718 Shares of Kellanova $K

Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in Kellanova (NYSE:K) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,511 shares of the company’s stock after selling 2,718 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Kellanova were worth $8,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Calamos Advisors LLC grew its position in Kellanova by 375.1% in the second quarter. Calamos Advisors LLC now owns 572,274 shares of the company’s stock worth $45,513,000 after acquiring an additional 451,825 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Kellanova by 10.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 42,227 shares of the company’s stock valued at $3,358,000 after purchasing an additional 4,146 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kellanova by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,289,089 shares of the company’s stock valued at $577,362,000 after purchasing an additional 163,126 shares during the last quarter. Everett Harris & Co. CA lifted its stake in shares of Kellanova by 1.7% in the 2nd quarter. Everett Harris & Co. CA now owns 11,746 shares of the company’s stock valued at $934,000 after purchasing an additional 196 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Kellanova by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 81,977 shares of the company’s stock worth $6,520,000 after purchasing an additional 3,354 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Price Performance

K opened at $83.32 on Friday. The business has a fifty day moving average of $81.58 and a 200 day moving average of $80.92. The stock has a market cap of $28.99 billion, a P/E ratio of 21.87, a PEG ratio of 5.16 and a beta of 0.23. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.45.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.50.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.